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Are Industrial Products Stocks Lagging Deere & Company (DE) This Year?

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For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Deere (DE - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Deere is one of 219 individual stocks in the Industrial Products sector. Collectively, these companies sit at #3 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Deere is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for DE's full-year earnings has moved 4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, DE has gained about 25.3% so far this year. Meanwhile, stocks in the Industrial Products group have lost about 12.3% on average. This shows that Deere is outperforming its peers so far this year.

Another Industrial Products stock, which has outperformed the sector so far this year, is Tenaris S.A. (TS - Free Report) . The stock has returned 58.9% year-to-date.

In Tenaris S.A.'s case, the consensus EPS estimate for the current year increased 7.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Deere belongs to the Manufacturing - Farm Equipment industry, a group that includes 8 individual stocks and currently sits at #99 in the Zacks Industry Rank. Stocks in this group have gained about 23.6% so far this year, so DE is performing better this group 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 #23. Since the beginning of the year, the industry has moved +41.6%.

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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