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Is Terex (TEX) 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. Terex (TEX - 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.
Terex is one of 219 individual stocks in the Industrial Products sector. Collectively, these companies sit at #1 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 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. Terex is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for TEX's full-year earnings has moved 1.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, TEX has returned 39% so far this year. At the same time, Industrial Products stocks have gained an average of 7.8%. This means that Terex is outperforming the sector as a whole this year.
Encore Wire (WIRE - Free Report) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 41.9%.
For Encore Wire, the consensus EPS estimate for the current year has increased 28.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Terex belongs to the Manufacturing - Construction and Mining industry, which includes 7 individual stocks and currently sits at #23 in the Zacks Industry Rank. This group has gained an average of 7.6% so far this year, so TEX is performing better in this area.
In contrast, Encore Wire falls under the Wire and Cable Products industry. Currently, this industry has 3 stocks and is ranked #3. Since the beginning of the year, the industry has moved +29.7%.
Terex and Encore Wire could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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Is Terex (TEX) 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. Terex (TEX - 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.
Terex is one of 219 individual stocks in the Industrial Products sector. Collectively, these companies sit at #1 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 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. Terex is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for TEX's full-year earnings has moved 1.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, TEX has returned 39% so far this year. At the same time, Industrial Products stocks have gained an average of 7.8%. This means that Terex is outperforming the sector as a whole this year.
Encore Wire (WIRE - Free Report) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 41.9%.
For Encore Wire, the consensus EPS estimate for the current year has increased 28.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Terex belongs to the Manufacturing - Construction and Mining industry, which includes 7 individual stocks and currently sits at #23 in the Zacks Industry Rank. This group has gained an average of 7.6% so far this year, so TEX is performing better in this area.
In contrast, Encore Wire falls under the Wire and Cable Products industry. Currently, this industry has 3 stocks and is ranked #3. Since the beginning of the year, the industry has moved +29.7%.
Terex and Encore Wire could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.