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Is Applied Industrial Technologies (AIT) Outperforming Other Industrial Products Stocks 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. Applied Industrial Technologies (AIT - 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.
Applied Industrial Technologies is a member of our Industrial Products group, which includes 222 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Applied Industrial Technologies is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AIT's full-year earnings has moved 2.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AIT has returned 11.8% so far this year. At the same time, Industrial Products stocks have gained an average of 6.8%. As we can see, Applied Industrial Technologies is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is Hyster-Yale Materials (HY - Free Report) . The stock is up 16.7% year-to-date.
For Hyster-Yale Materials, the consensus EPS estimate for the current year has increased 8.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Applied Industrial Technologies is a member of the Manufacturing - General Industrial industry, which includes 44 individual companies and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 5.8% so far this year, so AIT is performing better in this area.
In contrast, Hyster-Yale Materials falls under the Manufacturing - Material Handling industry. Currently, this industry has 3 stocks and is ranked #1. Since the beginning of the year, the industry has moved +8.6%.
Investors with an interest in Industrial Products stocks should continue to track Applied Industrial Technologies and Hyster-Yale Materials. These stocks will be looking to continue their solid performance.
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Is Applied Industrial Technologies (AIT) Outperforming Other Industrial Products Stocks This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Applied Industrial Technologies (AIT - 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.
Applied Industrial Technologies is a member of our Industrial Products group, which includes 222 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Applied Industrial Technologies is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AIT's full-year earnings has moved 2.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AIT has returned 11.8% so far this year. At the same time, Industrial Products stocks have gained an average of 6.8%. As we can see, Applied Industrial Technologies is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is Hyster-Yale Materials (HY - Free Report) . The stock is up 16.7% year-to-date.
For Hyster-Yale Materials, the consensus EPS estimate for the current year has increased 8.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Applied Industrial Technologies is a member of the Manufacturing - General Industrial industry, which includes 44 individual companies and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 5.8% so far this year, so AIT is performing better in this area.
In contrast, Hyster-Yale Materials falls under the Manufacturing - Material Handling industry. Currently, this industry has 3 stocks and is ranked #1. Since the beginning of the year, the industry has moved +8.6%.
Investors with an interest in Industrial Products stocks should continue to track Applied Industrial Technologies and Hyster-Yale Materials. These stocks will be looking to continue their solid performance.