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Is Caterpillar (CAT) 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. Is Caterpillar (CAT - Free Report) one of those stocks right now? 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 a member of our Industrial Products group, which includes 218 different companies and currently sits at #3 in 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 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. CAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CAT's full-year earnings has moved 19.99% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CAT has gained about 30.38% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 13.45% on average. This means that Caterpillar is outperforming the sector as a whole this year.
Looking more specifically, CAT belongs to the Manufacturing - Construction and Mining industry, a group that includes 8 individual stocks and currently sits at #63 in the Zacks Industry Rank. On average, stocks in this group have gained 31.83% this year, meaning that CAT is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Industrial Products sector will want to keep a close eye on CAT as it attempts to continue its solid performance.
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Is Caterpillar (CAT) 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. Is Caterpillar (CAT - Free Report) one of those stocks right now? 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 a member of our Industrial Products group, which includes 218 different companies and currently sits at #3 in 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 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. CAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CAT's full-year earnings has moved 19.99% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CAT has gained about 30.38% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 13.45% on average. This means that Caterpillar is outperforming the sector as a whole this year.
Looking more specifically, CAT belongs to the Manufacturing - Construction and Mining industry, a group that includes 8 individual stocks and currently sits at #63 in the Zacks Industry Rank. On average, stocks in this group have gained 31.83% this year, meaning that CAT is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Industrial Products sector will want to keep a close eye on CAT as it attempts to continue its solid performance.