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Is Ingersoll Rand (IR) Stock Outpacing Its Industrial Products Peers This Year?
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Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Ingersoll Rand (IR - 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Ingersoll Rand is one of 223 individual stocks in the Industrial Products sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Ingersoll Rand is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for IR's full-year earnings has moved 4.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, IR has moved about 24.4% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 6.9%. This means that Ingersoll Rand is performing better than its sector in terms of year-to-date returns.
One other Industrial Products stock that has outperformed the sector so far this year is Xerox Holdings Corporation (XRX - Free Report) . The stock is up 11.1% year-to-date.
The consensus estimate for Xerox Holdings Corporation's current year EPS has increased 10.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ingersoll Rand belongs to the Manufacturing - General Industrial industry, which includes 42 individual stocks and currently sits at #64 in the Zacks Industry Rank. On average, stocks in this group have gained 8.9% this year, meaning that IR is performing better in terms of year-to-date returns.
On the other hand, Xerox Holdings Corporation belongs to the Office Supplies industry. This 3-stock industry is currently ranked #112. The industry has moved +3.6% year to date.
Ingersoll Rand and Xerox Holdings Corporation could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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Is Ingersoll Rand (IR) Stock Outpacing Its Industrial Products Peers This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Ingersoll Rand (IR - 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Ingersoll Rand is one of 223 individual stocks in the Industrial Products sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Ingersoll Rand is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for IR's full-year earnings has moved 4.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, IR has moved about 24.4% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 6.9%. This means that Ingersoll Rand is performing better than its sector in terms of year-to-date returns.
One other Industrial Products stock that has outperformed the sector so far this year is Xerox Holdings Corporation (XRX - Free Report) . The stock is up 11.1% year-to-date.
The consensus estimate for Xerox Holdings Corporation's current year EPS has increased 10.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ingersoll Rand belongs to the Manufacturing - General Industrial industry, which includes 42 individual stocks and currently sits at #64 in the Zacks Industry Rank. On average, stocks in this group have gained 8.9% this year, meaning that IR is performing better in terms of year-to-date returns.
On the other hand, Xerox Holdings Corporation belongs to the Office Supplies industry. This 3-stock industry is currently ranked #112. The industry has moved +3.6% year to date.
Ingersoll Rand and Xerox Holdings Corporation could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.