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Is Manitex International (MNTX) Outperforming 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 our Industrial Products group, which includes 229 different companies and currently sits at #4 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. Manitex is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for MNTX's full-year earnings has moved 10% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, MNTX has gained about 8.5% so far this year. Meanwhile, stocks in the Industrial Products group have lost about 15.5% on average. This means that Manitex is performing better than its sector in terms of year-to-date returns.

Another Industrial Products stock, which has outperformed the sector so far this year, is ScanSource (SCSC - Free Report) . The stock has returned 10.4% year-to-date.

The consensus estimate for ScanSource's current year EPS has increased 14.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Manitex belongs to the Manufacturing - General Industrial industry, a group that includes 42 individual companies and currently sits at #89 in the Zacks Industry Rank. On average, stocks in this group have lost 20.1% this year, meaning that MNTX is performing better in terms of year-to-date returns.

In contrast, ScanSource falls under the Industrial Services industry. Currently, this industry has 24 stocks and is ranked #102. Since the beginning of the year, the industry has moved -25%.

Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Manitex and ScanSource as they could maintain their solid performance.

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