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Is Astec Industries (ASTE) 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. Astec Industries (ASTE - 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? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.
Astec Industries is one of 223 companies in the Industrial Products group. The Industrial Products group currently sits at #4 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Astec Industries is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ASTE's full-year earnings has moved 18.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ASTE has moved about 15.9% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of 5.8% on a year-to-date basis. This means that Astec Industries is performing better than its sector in terms of year-to-date returns.
Another Industrial Products stock, which has outperformed the sector so far this year, is Belden (BDC - Free Report) . The stock has returned 34.3% year-to-date.
For Belden, the consensus EPS estimate for the current year has increased 2.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Astec Industries belongs to the Manufacturing - Construction and Mining industry, a group that includes 7 individual companies and currently sits at #5 in the Zacks Industry Rank. Stocks in this group have gained about 15.4% so far this year, so ASTE is performing better this group in terms of year-to-date returns.
On the other hand, Belden belongs to the Wire and Cable Products industry. This 3-stock industry is currently ranked #22. The industry has moved +23.4% year to date.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Astec Industries and Belden as they could maintain their solid performance.
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Is Astec Industries (ASTE) 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. Astec Industries (ASTE - 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? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.
Astec Industries is one of 223 companies in the Industrial Products group. The Industrial Products group currently sits at #4 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Astec Industries is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ASTE's full-year earnings has moved 18.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ASTE has moved about 15.9% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of 5.8% on a year-to-date basis. This means that Astec Industries is performing better than its sector in terms of year-to-date returns.
Another Industrial Products stock, which has outperformed the sector so far this year, is Belden (BDC - Free Report) . The stock has returned 34.3% year-to-date.
For Belden, the consensus EPS estimate for the current year has increased 2.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Astec Industries belongs to the Manufacturing - Construction and Mining industry, a group that includes 7 individual companies and currently sits at #5 in the Zacks Industry Rank. Stocks in this group have gained about 15.4% so far this year, so ASTE is performing better this group in terms of year-to-date returns.
On the other hand, Belden belongs to the Wire and Cable Products industry. This 3-stock industry is currently ranked #22. The industry has moved +23.4% year to date.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Astec Industries and Belden as they could maintain their solid performance.