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Are Industrial Products Stocks Lagging OI Glass (OI) This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. O-I Glass (OI - 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.
O-I Glass is a member of the Industrial Products sector. This group includes 220 individual stocks and currently holds a Zacks Sector Rank of #4. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. O-I Glass is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for OI's full-year earnings has moved 8.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, OI has moved about 13.9% on a year-to-date basis. At the same time, Industrial Products stocks have lost an average of 6.8%. This means that O-I Glass is performing better than its sector in terms of year-to-date returns.
One other Industrial Products stock that has outperformed the sector so far this year is Siemens AG (SIEGY - Free Report) . The stock is up 13.9% year-to-date.
In Siemens AG's case, the consensus EPS estimate for the current year increased 11.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, O-I Glass is a member of the Glass Products industry, which includes 6 individual companies and currently sits at #14 in the Zacks Industry Rank. On average, this group has gained an average of 1.8% so far this year, meaning that OI is performing better in terms of year-to-date returns.
On the other hand, Siemens AG belongs to the Industrial Services industry. This 23-stock industry is currently ranked #90. The industry has moved -19.3% year to date.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to O-I Glass and Siemens AG as they could maintain their solid performance.