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Is OI Glass (OI) Stock Outpacing Its Industrial Products Peers This Year?
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The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has O-I Glass (OI - Free Report) been one of those stocks this year? 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 217 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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).
The Zacks Consensus Estimate for OI's full-year earnings has moved 26.9% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, OI has returned 26% so far this year. At the same time, Industrial Products stocks have gained an average of 3.8%. As we can see, O-I Glass is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is Encore Wire (WIRE - Free Report) . The stock is up 34.2% year-to-date.
Over the past three months, Encore Wire's consensus EPS estimate for the current year has increased 15.6%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, O-I Glass belongs to the Glass Products industry, a group that includes 6 individual stocks and currently sits at #39 in the Zacks Industry Rank. On average, this group has gained an average of 0.6% so far this year, meaning that OI is performing better in terms of year-to-date returns.
In contrast, Encore Wire falls under the Wire and Cable Products industry. Currently, this industry has 3 stocks and is ranked #7. Since the beginning of the year, the industry has moved +19.2%.
Investors interested in the Industrial Products sector may want to keep a close eye on O-I Glass and Encore Wire as they attempt to continue their solid performance.
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Is OI Glass (OI) Stock Outpacing Its Industrial Products Peers This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has O-I Glass (OI - Free Report) been one of those stocks this year? 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 217 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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).
The Zacks Consensus Estimate for OI's full-year earnings has moved 26.9% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, OI has returned 26% so far this year. At the same time, Industrial Products stocks have gained an average of 3.8%. As we can see, O-I Glass is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is Encore Wire (WIRE - Free Report) . The stock is up 34.2% year-to-date.
Over the past three months, Encore Wire's consensus EPS estimate for the current year has increased 15.6%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, O-I Glass belongs to the Glass Products industry, a group that includes 6 individual stocks and currently sits at #39 in the Zacks Industry Rank. On average, this group has gained an average of 0.6% so far this year, meaning that OI is performing better in terms of year-to-date returns.
In contrast, Encore Wire falls under the Wire and Cable Products industry. Currently, this industry has 3 stocks and is ranked #7. Since the beginning of the year, the industry has moved +19.2%.
Investors interested in the Industrial Products sector may want to keep a close eye on O-I Glass and Encore Wire as they attempt to continue their solid performance.