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Is The Manitowoc Company (MTW) 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. The Manitowoc Company, Inc. (MTW - 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.
The Manitowoc Company, Inc. is one of 217 companies in the Industrial Products group. The Industrial Products group currently sits at #5 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 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. The Manitowoc Company, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for MTW's full-year earnings has moved 33% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that MTW has returned about 58.6% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of 4.5% on a year-to-date basis. This shows that The Manitowoc Company, Inc. is outperforming its peers so far this year.
Parker-Hannifin (PH - 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 34.6%.
Over the past three months, Parker-Hannifin's consensus EPS estimate for the current year has increased 2.9%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, The Manitowoc Company, Inc. belongs to the Manufacturing - Construction and Mining industry, a group that includes 7 individual companies and currently sits at #13 in the Zacks Industry Rank. This group has gained an average of 12.3% so far this year, so MTW is performing better in this area.
In contrast, Parker-Hannifin falls under the Manufacturing - General Industrial industry. Currently, this industry has 41 stocks and is ranked #54. Since the beginning of the year, the industry has moved +8.3%.
The Manitowoc Company, Inc. and Parker-Hannifin 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 The Manitowoc Company (MTW) 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. The Manitowoc Company, Inc. (MTW - 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.
The Manitowoc Company, Inc. is one of 217 companies in the Industrial Products group. The Industrial Products group currently sits at #5 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 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. The Manitowoc Company, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for MTW's full-year earnings has moved 33% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that MTW has returned about 58.6% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of 4.5% on a year-to-date basis. This shows that The Manitowoc Company, Inc. is outperforming its peers so far this year.
Parker-Hannifin (PH - 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 34.6%.
Over the past three months, Parker-Hannifin's consensus EPS estimate for the current year has increased 2.9%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, The Manitowoc Company, Inc. belongs to the Manufacturing - Construction and Mining industry, a group that includes 7 individual companies and currently sits at #13 in the Zacks Industry Rank. This group has gained an average of 12.3% so far this year, so MTW is performing better in this area.
In contrast, Parker-Hannifin falls under the Manufacturing - General Industrial industry. Currently, this industry has 41 stocks and is ranked #54. Since the beginning of the year, the industry has moved +8.3%.
The Manitowoc Company, Inc. and Parker-Hannifin could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.