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Is Applied Industrial Technologies (AIT) Outperforming Other Industrial Products Stocks This Year?
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For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Applied Industrial Technologies (AIT - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.
Applied Industrial Technologies is a member of the Industrial Products sector. This group includes 229 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Applied Industrial Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AIT's full-year earnings has moved 5.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, AIT has gained about 0.7% so far this year. In comparison, Industrial Products companies have returned an average of -15.4%. As we can see, Applied Industrial Technologies is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is Silgan Holdings (SLGN - Free Report) . The stock is up 2.3% year-to-date.
The consensus estimate for Silgan Holdings' current year EPS has increased 2.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Applied Industrial Technologies belongs to the Manufacturing - General Industrial industry, a group that includes 42 individual stocks and currently sits at #104 in the Zacks Industry Rank. On average, stocks in this group have lost 19.7% this year, meaning that AIT is performing better in terms of year-to-date returns.
In contrast, Silgan Holdings falls under the Containers - Metal and Glass industry. Currently, this industry has 3 stocks and is ranked #212. Since the beginning of the year, the industry has moved -17.7%.
Investors with an interest in Industrial Products stocks should continue to track Applied Industrial Technologies and Silgan Holdings. These stocks will be looking to continue their solid performance.
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Is Applied Industrial Technologies (AIT) Outperforming Other Industrial Products Stocks This Year?
For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Applied Industrial Technologies (AIT - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.
Applied Industrial Technologies is a member of the Industrial Products sector. This group includes 229 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Applied Industrial Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AIT's full-year earnings has moved 5.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, AIT has gained about 0.7% so far this year. In comparison, Industrial Products companies have returned an average of -15.4%. As we can see, Applied Industrial Technologies is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is Silgan Holdings (SLGN - Free Report) . The stock is up 2.3% year-to-date.
The consensus estimate for Silgan Holdings' current year EPS has increased 2.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Applied Industrial Technologies belongs to the Manufacturing - General Industrial industry, a group that includes 42 individual stocks and currently sits at #104 in the Zacks Industry Rank. On average, stocks in this group have lost 19.7% this year, meaning that AIT is performing better in terms of year-to-date returns.
In contrast, Silgan Holdings falls under the Containers - Metal and Glass industry. Currently, this industry has 3 stocks and is ranked #212. Since the beginning of the year, the industry has moved -17.7%.
Investors with an interest in Industrial Products stocks should continue to track Applied Industrial Technologies and Silgan Holdings. These stocks will be looking to continue their solid performance.