Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Has Ingersoll Rand (IR) been one of those stocks this year? 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.
Ingersoll Rand is one of 213 companies in the Industrial Products group. The Industrial Products group currently sits at #14 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 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. Ingersoll Rand is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for IR's full-year earnings has moved 1.1% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, IR has moved about 26.3% on a year-to-date basis. At the same time, Industrial Products stocks have gained an average of 11.7%. This shows that Ingersoll Rand is outperforming its peers so far this year.
Another stock in the Industrial Products sector, Kadant (KAI), has outperformed the sector so far this year. The stock's year-to-date return is 28.3%.
In Kadant's case, the consensus EPS estimate for the current year increased 1.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ingersoll Rand belongs to the Manufacturing - General Industrial industry, a group that includes 42 individual stocks and currently sits at #148 in the Zacks Industry Rank. This group has gained an average of 12.9% so far this year, so IR is performing better in this area. Kadant is also part of the same industry.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Ingersoll Rand and Kadant as they could maintain their solid performance.
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Kadant Inc (KAI) : Free Stock Analysis Report
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