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Is Alamo Group (ALG) Outperforming Other Industrial Products Stocks 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. Alamo Group (ALG - 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.
Alamo Group is one of 217 individual stocks in the Industrial Products sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. 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. Alamo Group is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALG's full-year earnings has moved 12.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ALG has returned 29.7% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 6.4% on average. As we can see, Alamo Group is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, Allegion (ALLE - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 10.9%.
For Allegion, the consensus EPS estimate for the current year has increased 4.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Alamo Group belongs to the Manufacturing - Farm Equipment industry, a group that includes 8 individual companies and currently sits at #94 in the Zacks Industry Rank. This group has lost an average of 6.9% so far this year, so ALG is performing better in this area.
On the other hand, Allegion belongs to the Security and Safety Services industry. This 22-stock industry is currently ranked #95. The industry has moved +2.7% year to date.
Alamo Group and Allegion 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 Alamo Group (ALG) Outperforming Other Industrial Products Stocks This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Alamo Group (ALG - 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.
Alamo Group is one of 217 individual stocks in the Industrial Products sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. 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. Alamo Group is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALG's full-year earnings has moved 12.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ALG has returned 29.7% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 6.4% on average. As we can see, Alamo Group is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, Allegion (ALLE - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 10.9%.
For Allegion, the consensus EPS estimate for the current year has increased 4.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Alamo Group belongs to the Manufacturing - Farm Equipment industry, a group that includes 8 individual companies and currently sits at #94 in the Zacks Industry Rank. This group has lost an average of 6.9% so far this year, so ALG is performing better in this area.
On the other hand, Allegion belongs to the Security and Safety Services industry. This 22-stock industry is currently ranked #95. The industry has moved +2.7% year to date.
Alamo Group and Allegion could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.