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Has Alcoa (AA) Outpaced 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 Alcoa (AA - 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.
Alcoa is a member of our Industrial Products group, which includes 224 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Alcoa is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AA's full-year earnings has moved 115.8% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that AA has returned about 38.4% since the start of the calendar year. At the same time, Industrial Products stocks have lost an average of 6%. This means that Alcoa is outperforming the sector as a whole this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Deere (DE - Free Report) . The stock has returned 20.5% year-to-date.
In Deere's case, the consensus EPS estimate for the current year increased 2.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Alcoa belongs to the Metal Products - Distribution industry, which includes 6 individual stocks and currently sits at #27 in the Zacks Industry Rank. This group has gained an average of 18.7% so far this year, so AA is performing better in this area.
Deere, however, belongs to the Manufacturing - Farm Equipment industry. Currently, this 7-stock industry is ranked #52. The industry has moved +19.5% so far this year.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Alcoa and Deere as they could maintain their solid performance.
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Has Alcoa (AA) Outpaced 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 Alcoa (AA - 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.
Alcoa is a member of our Industrial Products group, which includes 224 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Alcoa is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AA's full-year earnings has moved 115.8% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that AA has returned about 38.4% since the start of the calendar year. At the same time, Industrial Products stocks have lost an average of 6%. This means that Alcoa is outperforming the sector as a whole this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Deere (DE - Free Report) . The stock has returned 20.5% year-to-date.
In Deere's case, the consensus EPS estimate for the current year increased 2.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Alcoa belongs to the Metal Products - Distribution industry, which includes 6 individual stocks and currently sits at #27 in the Zacks Industry Rank. This group has gained an average of 18.7% so far this year, so AA is performing better in this area.
Deere, however, belongs to the Manufacturing - Farm Equipment industry. Currently, this 7-stock industry is ranked #52. The industry has moved +19.5% so far this year.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Alcoa and Deere as they could maintain their solid performance.