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Is Eaton (ETN) Outperforming Other Industrial Products Stocks 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 Eaton (ETN - Free Report) one of those stocks right now? 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.
Eaton is one of 218 companies in the Industrial Products group. The Industrial Products group currently sits at #11 within 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. Eaton is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ETN's full-year earnings has moved 1.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ETN has returned about 23% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of 5.7% on a year-to-date basis. This means that Eaton is outperforming the sector as a whole this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Hubbell (HUBB - Free Report) . The stock has returned 12.8% year-to-date.
For Hubbell, the consensus EPS estimate for the current year has increased 0.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Eaton is a member of the Manufacturing - Electronics industry, which includes 16 individual companies and currently sits at #14 in the Zacks Industry Rank. On average, stocks in this group have gained 6.6% this year, meaning that ETN is performing better in terms of year-to-date returns.
On the other hand, Hubbell belongs to the Manufacturing - Electrical Utilities industry. This 1-stock industry is currently ranked #4. The industry has moved +12.8% year to date.
Eaton and Hubbell 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 Eaton (ETN) Outperforming Other Industrial Products Stocks This Year?
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 Eaton (ETN - Free Report) one of those stocks right now? 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.
Eaton is one of 218 companies in the Industrial Products group. The Industrial Products group currently sits at #11 within 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. Eaton is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ETN's full-year earnings has moved 1.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ETN has returned about 23% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of 5.7% on a year-to-date basis. This means that Eaton is outperforming the sector as a whole this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Hubbell (HUBB - Free Report) . The stock has returned 12.8% year-to-date.
For Hubbell, the consensus EPS estimate for the current year has increased 0.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Eaton is a member of the Manufacturing - Electronics industry, which includes 16 individual companies and currently sits at #14 in the Zacks Industry Rank. On average, stocks in this group have gained 6.6% this year, meaning that ETN is performing better in terms of year-to-date returns.
On the other hand, Hubbell belongs to the Manufacturing - Electrical Utilities industry. This 1-stock industry is currently ranked #4. The industry has moved +12.8% year to date.
Eaton and Hubbell could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.