Back to top

Image: Bigstock

Is Reliance Steel & Aluminum Co. (RS) Stock Outpacing Its Industrial Products Peers This Year?

Read MoreHide Full Article

Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Reliance Steel (RS - 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.

Reliance Steel is one of 219 companies in the Industrial Products group. The Industrial Products group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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. Reliance Steel is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for RS' full-year earnings has moved 22.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, RS has moved about 30.2% on a year-to-date basis. At the same time, Industrial Products stocks have gained an average of 8.4%. This means that Reliance Steel is outperforming the sector as a whole this year.

Another Industrial Products stock, which has outperformed the sector so far this year, is Siemens AG (SIEGY - Free Report) . The stock has returned 13.8% year-to-date.

For Siemens AG, the consensus EPS estimate for the current year has increased 2.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Reliance Steel belongs to the Metal Products - Distribution industry, a group that includes 5 individual companies and currently sits at #110 in the Zacks Industry Rank. On average, stocks in this group have gained 28.2% this year, meaning that RS is performing better in terms of year-to-date returns.

In contrast, Siemens AG falls under the Industrial Services industry. Currently, this industry has 23 stocks and is ranked #36. Since the beginning of the year, the industry has moved +21.5%.

Investors with an interest in Industrial Products stocks should continue to track Reliance Steel and Siemens AG. These stocks will be looking to continue their solid performance.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Reliance, Inc. (RS) - free report >>

Siemens AG (SIEGY) - free report >>

Published in