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Is Deere & Company (DE) Stock Outpacing Its Industrial Products Peers 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. Deere (DE - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Deere is a member of our Industrial Products group, which includes 219 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Deere is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DE's full-year earnings has moved 3.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DE has moved about 28.6% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of -10.4%. As we can see, Deere is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is Tenaris S.A. (TS - Free Report) . The stock is up 61.8% year-to-date.
For Tenaris S.A. the consensus EPS estimate for the current year has increased 6.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Deere is a member of the Manufacturing - Farm Equipment industry, which includes 8 individual companies and currently sits at #90 in the Zacks Industry Rank. On average, this group has gained an average of 26.9% so far this year, meaning that DE is performing better in terms of year-to-date returns.
In contrast, Tenaris S.A. falls under the Steel - Pipe and Tube industry. Currently, this industry has 4 stocks and is ranked #16. Since the beginning of the year, the industry has moved +43.2%.
Investors interested in the Industrial Products sector may want to keep a close eye on Deere and Tenaris S.A. as they attempt to continue their solid performance.
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Is Deere & Company (DE) Stock Outpacing Its Industrial Products Peers This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Deere (DE - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Deere is a member of our Industrial Products group, which includes 219 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Deere is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DE's full-year earnings has moved 3.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DE has moved about 28.6% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of -10.4%. As we can see, Deere is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is Tenaris S.A. (TS - Free Report) . The stock is up 61.8% year-to-date.
For Tenaris S.A. the consensus EPS estimate for the current year has increased 6.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Deere is a member of the Manufacturing - Farm Equipment industry, which includes 8 individual companies and currently sits at #90 in the Zacks Industry Rank. On average, this group has gained an average of 26.9% so far this year, meaning that DE is performing better in terms of year-to-date returns.
In contrast, Tenaris S.A. falls under the Steel - Pipe and Tube industry. Currently, this industry has 4 stocks and is ranked #16. Since the beginning of the year, the industry has moved +43.2%.
Investors interested in the Industrial Products sector may want to keep a close eye on Deere and Tenaris S.A. as they attempt to continue their solid performance.