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Is ScanSource (SCSC) 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. Is ScanSource (SCSC - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
ScanSource is one of 224 individual stocks in the Industrial Products sector. Collectively, these companies sit at #14 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 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. SCSC is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for SCSC's full-year earnings has moved 16.61% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, SCSC has moved about 38.44% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 12.67%. This shows that ScanSource is outperforming its peers so far this year.
Looking more specifically, SCSC belongs to the Industrial Services industry, which includes 21 individual stocks and currently sits at #98 in the Zacks Industry Rank. Stocks in this group have lost about 15.66% so far this year, so SCSC is performing better this group in terms of year-to-date returns.
Investors in the Industrial Products sector will want to keep a close eye on SCSC as it attempts to continue its solid performance.
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Is ScanSource (SCSC) 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. Is ScanSource (SCSC - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
ScanSource is one of 224 individual stocks in the Industrial Products sector. Collectively, these companies sit at #14 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 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. SCSC is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for SCSC's full-year earnings has moved 16.61% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, SCSC has moved about 38.44% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 12.67%. This shows that ScanSource is outperforming its peers so far this year.
Looking more specifically, SCSC belongs to the Industrial Services industry, which includes 21 individual stocks and currently sits at #98 in the Zacks Industry Rank. Stocks in this group have lost about 15.66% so far this year, so SCSC is performing better this group in terms of year-to-date returns.
Investors in the Industrial Products sector will want to keep a close eye on SCSC as it attempts to continue its solid performance.