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Are Industrial Products Stocks Lagging ParkerHannifin (PH) 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. Parker-Hannifin (PH - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Parker-Hannifin is one of 224 companies in the Industrial Products group. The Industrial Products group currently sits at #3 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Parker-Hannifin is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PH's full-year earnings has moved 4.4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, PH has returned 38.4% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 12.7% on average. As we can see, Parker-Hannifin is performing better than its sector in the calendar year.
Rockwell Automation (ROK - Free Report) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 33%.
The consensus estimate for Rockwell Automation's current year EPS has increased 7.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Parker-Hannifin belongs to the Manufacturing - General Industrial industry, a group that includes 42 individual stocks and currently sits at #105 in the Zacks Industry Rank. On average, stocks in this group have gained 15.1% this year, meaning that PH is performing better in terms of year-to-date returns.
On the other hand, Rockwell Automation belongs to the Industrial Automation and Robotics industry. This 3-stock industry is currently ranked #131. The industry has moved +31.2% year to date.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Parker-Hannifin and Rockwell Automation as they could maintain their solid performance.
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Are Industrial Products Stocks Lagging ParkerHannifin (PH) This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Parker-Hannifin (PH - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Parker-Hannifin is one of 224 companies in the Industrial Products group. The Industrial Products group currently sits at #3 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Parker-Hannifin is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PH's full-year earnings has moved 4.4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, PH has returned 38.4% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 12.7% on average. As we can see, Parker-Hannifin is performing better than its sector in the calendar year.
Rockwell Automation (ROK - Free Report) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 33%.
The consensus estimate for Rockwell Automation's current year EPS has increased 7.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Parker-Hannifin belongs to the Manufacturing - General Industrial industry, a group that includes 42 individual stocks and currently sits at #105 in the Zacks Industry Rank. On average, stocks in this group have gained 15.1% this year, meaning that PH is performing better in terms of year-to-date returns.
On the other hand, Rockwell Automation belongs to the Industrial Automation and Robotics industry. This 3-stock industry is currently ranked #131. The industry has moved +31.2% year to date.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Parker-Hannifin and Rockwell Automation as they could maintain their solid performance.