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Is Reliance Steel (RS) Stock Outpacing Its Industrial Products Peers 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. Has Reliance Steel (RS - Free Report) been one of those stocks this year? 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.
Reliance Steel is one of 223 individual stocks in the Industrial Products sector. Collectively, these companies sit at #11 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 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. Reliance Steel is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for RS' full-year earnings has moved 7.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, RS has returned 31% so far this year. In comparison, Industrial Products companies have returned an average of 12.3%. This means that Reliance Steel is outperforming the sector as a whole this year.
One other Industrial Products stock that has outperformed the sector so far this year is ScanSource (SCSC - Free Report) . The stock is up 24.7% year-to-date.
The consensus estimate for ScanSource's current year EPS has increased 0.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Reliance Steel belongs to the Metal Products - Distribution industry, a group that includes 6 individual companies and currently sits at #92 in the Zacks Industry Rank. On average, stocks in this group have gained 45.6% this year, meaning that RS is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, ScanSource belongs to the Industrial Services industry. This 21-stock industry is currently ranked #153. The industry has moved -29.7% year to date.
Investors with an interest in Industrial Products stocks should continue to track Reliance Steel and ScanSource. These stocks will be looking to continue their solid performance.
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Is Reliance Steel (RS) Stock Outpacing Its Industrial Products Peers 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. Has Reliance Steel (RS - Free Report) been one of those stocks this year? 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.
Reliance Steel is one of 223 individual stocks in the Industrial Products sector. Collectively, these companies sit at #11 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 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. Reliance Steel is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for RS' full-year earnings has moved 7.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, RS has returned 31% so far this year. In comparison, Industrial Products companies have returned an average of 12.3%. This means that Reliance Steel is outperforming the sector as a whole this year.
One other Industrial Products stock that has outperformed the sector so far this year is ScanSource (SCSC - Free Report) . The stock is up 24.7% year-to-date.
The consensus estimate for ScanSource's current year EPS has increased 0.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Reliance Steel belongs to the Metal Products - Distribution industry, a group that includes 6 individual companies and currently sits at #92 in the Zacks Industry Rank. On average, stocks in this group have gained 45.6% this year, meaning that RS is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, ScanSource belongs to the Industrial Services industry. This 21-stock industry is currently ranked #153. The industry has moved -29.7% year to date.
Investors with an interest in Industrial Products stocks should continue to track Reliance Steel and ScanSource. These stocks will be looking to continue their solid performance.