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Are Industrial Products Stocks Lagging Astec Industries (ASTE) 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 Astec Industries (ASTE - 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.
Astec Industries is a member of our Industrial Products group, which includes 224 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Astec Industries is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ASTE's full-year earnings has moved 30.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ASTE has returned 11.2% so far this year. At the same time, Industrial Products stocks have gained an average of 10.8%. This shows that Astec Industries is outperforming its peers so far this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Komatsu Ltd. (KMTUY - Free Report) . The stock has returned 23.9% year-to-date.
Over the past three months, Komatsu Ltd.'s consensus EPS estimate for the current year has increased 9.8%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Astec Industries belongs to the Manufacturing - Construction and Mining industry, a group that includes 7 individual companies and currently sits at #3 in the Zacks Industry Rank. On average, stocks in this group have gained 7.8% this year, meaning that ASTE is performing better in terms of year-to-date returns. Komatsu Ltd. is also part of the same industry.
Investors with an interest in Industrial Products stocks should continue to track Astec Industries and Komatsu Ltd. These stocks will be looking to continue their solid performance.