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Is Terex (TEX) Stock Outpacing Its Industrial Products Peers This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Terex (TEX - 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.
Terex is one of 217 individual stocks in the Industrial Products sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. 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 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. Terex is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for TEX's full-year earnings has moved 21.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that TEX has returned about 21.5% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of 2.2% on a year-to-date basis. This shows that Terex is outperforming its peers so far this year.
Another stock in the Industrial Products sector, Tetra Tech (TTEK - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 5.5%.
Over the past three months, Tetra Tech's consensus EPS estimate for the current year has increased 2.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Terex belongs to the Manufacturing - Construction and Mining industry, a group that includes 6 individual stocks and currently sits at #5 in the Zacks Industry Rank. On average, stocks in this group have lost 3.9% this year, meaning that TEX is performing better in terms of year-to-date returns.
In contrast, Tetra Tech falls under the Pollution Control industry. Currently, this industry has 10 stocks and is ranked #81. Since the beginning of the year, the industry has moved +1.3%.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Terex and Tetra Tech as they could maintain their solid performance.