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Is Agco (AGCO) 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. Has Agco (AGCO - Free Report) been one of those stocks this year? 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.

Agco is a member of the Industrial Products sector. This group includes 224 individual stocks and currently holds a Zacks Sector Rank of #7. 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 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. Agco is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for AGCO's full-year earnings has moved 12% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, AGCO has returned 18.9% so far this year. At the same time, Industrial Products stocks have lost an average of 5.5%. This means that Agco is outperforming the sector as a whole this year.

Another stock in the Industrial Products sector, ScanSource (SCSC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 2.3%.

The consensus estimate for ScanSource's current year EPS has increased 6.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Agco belongs to the Manufacturing - Farm Equipment industry, a group that includes 7 individual stocks and currently sits at #98 in the Zacks Industry Rank. Stocks in this group have gained about 23.7% so far this year, so AGCO is slightly underperforming its industry this group in terms of year-to-date returns.

ScanSource, however, belongs to the Industrial Services industry. Currently, this 23-stock industry is ranked #97. The industry has moved -10.5% so far this year.

Agco and ScanSource could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.


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