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Is ESAB Corporation (ESAB) Stock Outpacing Its Industrial Products Peers 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. Esab (ESAB - 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.
Esab is one of 221 companies in the Industrial Products group. The Industrial Products group currently sits at #4 within 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 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. Esab is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ESAB's full-year earnings has moved 2.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ESAB has returned about 18.1% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of 5.9% on a year-to-date basis. This means that Esab is performing better than its sector in terms of year-to-date returns.
DNOW (DNOW - 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 24.9%.
Over the past three months, DNOW's consensus EPS estimate for the current year has increased 3.6%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Esab belongs to the Metal Products - Procurement and Fabrication industry, a group that includes 11 individual companies and currently sits at #27 in the Zacks Industry Rank. On average, stocks in this group have gained 15.9% this year, meaning that ESAB is performing better in terms of year-to-date returns.
In contrast, DNOW falls under the Manufacturing - General Industrial industry. Currently, this industry has 44 stocks and is ranked #84. Since the beginning of the year, the industry has moved +4.3%.
Investors interested in the Industrial Products sector may want to keep a close eye on Esab and DNOW as they attempt to continue their solid performance.
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Is ESAB Corporation (ESAB) 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. Esab (ESAB - 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.
Esab is one of 221 companies in the Industrial Products group. The Industrial Products group currently sits at #4 within 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 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. Esab is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ESAB's full-year earnings has moved 2.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ESAB has returned about 18.1% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of 5.9% on a year-to-date basis. This means that Esab is performing better than its sector in terms of year-to-date returns.
DNOW (DNOW - 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 24.9%.
Over the past three months, DNOW's consensus EPS estimate for the current year has increased 3.6%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Esab belongs to the Metal Products - Procurement and Fabrication industry, a group that includes 11 individual companies and currently sits at #27 in the Zacks Industry Rank. On average, stocks in this group have gained 15.9% this year, meaning that ESAB is performing better in terms of year-to-date returns.
In contrast, DNOW falls under the Manufacturing - General Industrial industry. Currently, this industry has 44 stocks and is ranked #84. Since the beginning of the year, the industry has moved +4.3%.
Investors interested in the Industrial Products sector may want to keep a close eye on Esab and DNOW as they attempt to continue their solid performance.