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Is Myers Industries (MYE) Stock Outpacing Its Industrial Products Peers 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. Myers (MYE - 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.

Myers is one of 219 companies in the Industrial Products group. The Industrial Products group currently sits at #3 within 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 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. Myers is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for MYE's full-year earnings has moved 4.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, MYE has gained about 15.5% so far this year. Meanwhile, stocks in the Industrial Products group have lost about 11.7% on average. This means that Myers is outperforming the sector as a whole this year.

Another Industrial Products stock, which has outperformed the sector so far this year, is Titan International . The stock has returned 42.2% year-to-date.

For Titan International, the consensus EPS estimate for the current year has increased 1.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Myers belongs to the Rubber - Plastics industry, a group that includes 4 individual companies and currently sits at #90 in the Zacks Industry Rank. Stocks in this group have lost about 40.1% so far this year, so MYE is performing better this group in terms of year-to-date returns.

On the other hand, Titan International belongs to the Manufacturing - Farm Equipment industry. This 8-stock industry is currently ranked #90. The industry has moved +26% year to date.

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

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