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Has AGCO (AGCO) Outpaced 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. AGCO (AGCO - 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? One simple way to answer this question is to take a look at the year-to-date performance of AGCO and the rest of the Industrial Products group's stocks.
AGCO is one of 212 individual stocks in the Industrial Products sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. AGCO is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AGCO's full-year earnings has moved 22.26% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AGCO has returned about 25.94% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of 10% on a year-to-date basis. This shows that AGCO is outperforming its peers so far this year.
Looking more specifically, AGCO belongs to the Manufacturing - Farm Equipment industry, which includes 6 individual stocks and currently sits at #26 in the Zacks Industry Rank. On average, stocks in this group have gained 28.19% this year, meaning that AGCO is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to AGCO as it looks to continue its solid performance.
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Has AGCO (AGCO) Outpaced 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. AGCO (AGCO - 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? One simple way to answer this question is to take a look at the year-to-date performance of AGCO and the rest of the Industrial Products group's stocks.
AGCO is one of 212 individual stocks in the Industrial Products sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. AGCO is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AGCO's full-year earnings has moved 22.26% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AGCO has returned about 25.94% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of 10% on a year-to-date basis. This shows that AGCO is outperforming its peers so far this year.
Looking more specifically, AGCO belongs to the Manufacturing - Farm Equipment industry, which includes 6 individual stocks and currently sits at #26 in the Zacks Industry Rank. On average, stocks in this group have gained 28.19% this year, meaning that AGCO is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to AGCO as it looks to continue its solid performance.