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Has Caterpillar (CAT) Outpaced Other Industrial Products Stocks This Year?
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Investors focused on the Industrial Products space have likely heard of Caterpillar (CAT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Caterpillar is one of 211 companies in the Industrial Products group. The Industrial Products group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CAT's full-year earnings has moved 6.38% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CAT has returned about 21.73% since the start of the calendar year. Meanwhile, stocks in the Industrial Products group have gained about 10.93% on average. As we can see, Caterpillar is performing better than its sector in the calendar year.
Looking more specifically, CAT belongs to the Manufacturing - Construction and Mining industry, which includes 8 individual stocks and currently sits at #73 in the Zacks Industry Rank. On average, this group has gained an average of 22.43% so far this year, meaning that CAT is slightly underperforming its industry in terms of year-to-date returns.
CAT will likely be looking to continue its solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to the company.
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Has Caterpillar (CAT) Outpaced Other Industrial Products Stocks This Year?
Investors focused on the Industrial Products space have likely heard of Caterpillar (CAT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Caterpillar is one of 211 companies in the Industrial Products group. The Industrial Products group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CAT's full-year earnings has moved 6.38% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CAT has returned about 21.73% since the start of the calendar year. Meanwhile, stocks in the Industrial Products group have gained about 10.93% on average. As we can see, Caterpillar is performing better than its sector in the calendar year.
Looking more specifically, CAT belongs to the Manufacturing - Construction and Mining industry, which includes 8 individual stocks and currently sits at #73 in the Zacks Industry Rank. On average, this group has gained an average of 22.43% so far this year, meaning that CAT is slightly underperforming its industry in terms of year-to-date returns.
CAT will likely be looking to continue its solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to the company.