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Has Manitex International (MNTX) Outpaced Other Industrial Products Stocks This Year?

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Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Has Manitex (MNTX - 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.

Manitex is a member of the Industrial Products sector. This group includes 229 individual stocks and currently holds a Zacks Sector Rank of #10. 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. Manitex is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for MNTX's full-year earnings has moved 10% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, MNTX has gained about 13.7% so far this year. At the same time, Industrial Products stocks have lost an average of 17.7%. This means that Manitex is outperforming the sector as a whole this year.

Another Industrial Products stock, which has outperformed the sector so far this year, is ScanSource (SCSC - Free Report) . The stock has returned 11.7% year-to-date.

Over the past three months, ScanSource's consensus EPS estimate for the current year has increased 14.9%. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, Manitex is a member of the Manufacturing - General Industrial industry, which includes 42 individual companies and currently sits at #146 in the Zacks Industry Rank. On average, stocks in this group have lost 21.9% this year, meaning that MNTX is performing better in terms of year-to-date returns.

ScanSource, however, belongs to the Industrial Services industry. Currently, this 24-stock industry is ranked #96. The industry has moved -27.9% so far this year.

Manitex 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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