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Is Eaton (ETN) 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. Has Eaton (ETN - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Eaton is one of 219 individual stocks in the Industrial Products sector. Collectively, these companies sit at #12 in 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Eaton is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ETN's full-year earnings has moved 1.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ETN has returned about 18.7% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 4.4%. As we can see, Eaton 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 Packaging Corp. (PKG - Free Report) . The stock is up 25.2% year-to-date.
Over the past three months, Packaging Corp.'s consensus EPS estimate for the current year has increased 5.5%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Eaton belongs to the Manufacturing - Electronics industry, which includes 16 individual stocks and currently sits at #18 in the Zacks Industry Rank. On average, this group has gained an average of 2.9% so far this year, meaning that ETN is performing better in terms of year-to-date returns.
On the other hand, Packaging Corp. belongs to the Containers - Paper and Packaging industry. This 12-stock industry is currently ranked #100. The industry has moved +13.7% year to date.
Investors interested in the Industrial Products sector may want to keep a close eye on Eaton and Packaging Corp. as they attempt to continue their solid performance.
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Is Eaton (ETN) 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. Has Eaton (ETN - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Eaton is one of 219 individual stocks in the Industrial Products sector. Collectively, these companies sit at #12 in 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Eaton is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ETN's full-year earnings has moved 1.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ETN has returned about 18.7% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 4.4%. As we can see, Eaton 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 Packaging Corp. (PKG - Free Report) . The stock is up 25.2% year-to-date.
Over the past three months, Packaging Corp.'s consensus EPS estimate for the current year has increased 5.5%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Eaton belongs to the Manufacturing - Electronics industry, which includes 16 individual stocks and currently sits at #18 in the Zacks Industry Rank. On average, this group has gained an average of 2.9% so far this year, meaning that ETN is performing better in terms of year-to-date returns.
On the other hand, Packaging Corp. belongs to the Containers - Paper and Packaging industry. This 12-stock industry is currently ranked #100. The industry has moved +13.7% year to date.
Investors interested in the Industrial Products sector may want to keep a close eye on Eaton and Packaging Corp. as they attempt to continue their solid performance.