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Is Reliance Steel (RS) Outperforming Other Industrial Products Stocks This Year?
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The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Reliance Steel (RS - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Reliance Steel is one of 223 companies in the Industrial Products group. The Industrial Products group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Reliance Steel is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for RS' full-year earnings has moved 7.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, RS has returned 34.8% so far this year. At the same time, Industrial Products stocks have gained an average of 15.4%. This shows that Reliance Steel is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is ScanSource (SCSC - Free Report) . The stock is up 34.1% year-to-date.
For ScanSource, the consensus EPS estimate for the current year has increased 0.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Reliance Steel belongs to the Metal Products - Distribution industry, a group that includes 6 individual stocks and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 59% so far this year, so RS is slightly underperforming its industry in this area.
ScanSource, however, belongs to the Industrial Services industry. Currently, this 21-stock industry is ranked #112. The industry has moved -27.8% so far this year.
Investors interested in the Industrial Products sector may want to keep a close eye on Reliance Steel and ScanSource as they attempt to continue their solid performance.
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Is Reliance Steel (RS) Outperforming Other Industrial Products Stocks This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Reliance Steel (RS - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Reliance Steel is one of 223 companies in the Industrial Products group. The Industrial Products group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Reliance Steel is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for RS' full-year earnings has moved 7.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, RS has returned 34.8% so far this year. At the same time, Industrial Products stocks have gained an average of 15.4%. This shows that Reliance Steel is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is ScanSource (SCSC - Free Report) . The stock is up 34.1% year-to-date.
For ScanSource, the consensus EPS estimate for the current year has increased 0.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Reliance Steel belongs to the Metal Products - Distribution industry, a group that includes 6 individual stocks and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 59% so far this year, so RS is slightly underperforming its industry in this area.
ScanSource, however, belongs to the Industrial Services industry. Currently, this 21-stock industry is ranked #112. The industry has moved -27.8% so far this year.
Investors interested in the Industrial Products sector may want to keep a close eye on Reliance Steel and ScanSource as they attempt to continue their solid performance.