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Are Industrial Products Stocks Lagging Terex (TEX) This Year?
For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Terex (TEX - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Terex is one of 219 companies in the Industrial Products group. The Industrial Products group currently sits at #1 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 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. 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 1.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, TEX has gained about 9.1% so far this year. At the same time, Industrial Products stocks have lost an average of 0.6%. This shows that Terex is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is Ashtead Group PLC (ASHTY - Free Report) . The stock is up 8% year-to-date.
The consensus estimate for Ashtead Group PLC's current year EPS has increased 1.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Terex is a member of the Manufacturing - Construction and Mining industry, which includes 7 individual companies and currently sits at #17 in the Zacks Industry Rank. On average, this group has lost an average of 7.4% so far this year, meaning that TEX is performing better in terms of year-to-date returns.
On the other hand, Ashtead Group PLC belongs to the Industrial Services industry. This 23-stock industry is currently ranked #31. The industry has moved +13.7% year to date.
Terex and Ashtead Group PLC could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.