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Is Caterpillar (CAT) Outperforming Other Industrial Products Stocks 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. Caterpillar (CAT - 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 CAT and the rest of the Industrial Products group's stocks.
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 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 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. CAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CAT's full-year earnings has moved 20.73% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CAT has gained about 32.45% so far this year. At the same time, Industrial Products stocks have gained an average of 15.37%. This means that Caterpillar is performing better than its sector in terms of year-to-date returns.
Looking more specifically, CAT belongs to the Manufacturing - Construction and Mining industry, which includes 8 individual stocks and currently sits at #69 in the Zacks Industry Rank. On average, this group has gained an average of 33.97% so far this year, meaning that CAT is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Industrial Products stocks should continue to track CAT. The stock will be looking to continue its solid performance.
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Is Caterpillar (CAT) Outperforming Other Industrial Products Stocks This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Caterpillar (CAT - 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 CAT and the rest of the Industrial Products group's stocks.
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 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 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. CAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CAT's full-year earnings has moved 20.73% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CAT has gained about 32.45% so far this year. At the same time, Industrial Products stocks have gained an average of 15.37%. This means that Caterpillar is performing better than its sector in terms of year-to-date returns.
Looking more specifically, CAT belongs to the Manufacturing - Construction and Mining industry, which includes 8 individual stocks and currently sits at #69 in the Zacks Industry Rank. On average, this group has gained an average of 33.97% so far this year, meaning that CAT is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Industrial Products stocks should continue to track CAT. The stock will be looking to continue its solid performance.