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Is Avery Dennison (AVY) Stock Outpacing Its Industrial Products Peers This Year?

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For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Avery Dennison (AVY - 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.

Avery Dennison is a member of our Industrial Products group, which includes 222 different companies and currently sits at #4 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 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. Avery Dennison is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for AVY's full-year earnings has moved 0.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, AVY has moved about 13.5% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of 4.8% on a year-to-date basis. This means that Avery Dennison is performing better than its sector in terms of year-to-date returns.

Encore Wire (WIRE - 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 35.6%.

The consensus estimate for Encore Wire's current year EPS has increased 28.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Avery Dennison belongs to the Office Supplies industry, a group that includes 3 individual companies and currently sits at #97 in the Zacks Industry Rank. This group has gained an average of 6.7% so far this year, so AVY is performing better in this area.

Encore Wire, however, belongs to the Wire and Cable Products industry. Currently, this 4-stock industry is ranked #12. The industry has moved +5.9% so far this year.

Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Avery Dennison and Encore Wire as they could maintain their solid performance.


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