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Is ESAB Corporation (ESAB) Stock Outpacing Its Industrial Products Peers This Year?
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For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Esab (ESAB - 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.
Esab is one of 227 individual stocks in the Industrial Products sector. Collectively, these companies sit at #4 in 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. Esab is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ESAB's full-year earnings has moved 1.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ESAB has gained about 3.4% so far this year. Meanwhile, the Industrial Products sector has returned an average of 1.2% on a year-to-date basis. This means that Esab is performing better than its sector in terms of year-to-date returns.
One other Industrial Products stock that has outperformed the sector so far this year is H&E Equipment (HEES - Free Report) . The stock is up 1.2% year-to-date.
Over the past three months, H&E Equipment's consensus EPS estimate for the current year has increased 1.6%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Esab belongs to the Metal Products - Procurement and Fabrication industry, a group that includes 12 individual companies and currently sits at #164 in the Zacks Industry Rank. On average, stocks in this group have lost 1.9% this year, meaning that ESAB is performing better in terms of year-to-date returns.
On the other hand, H&E Equipment belongs to the Manufacturing - Construction and Mining industry. This 7-stock industry is currently ranked #31. The industry has moved +5.8% year to date.
Investors interested in the Industrial Products sector may want to keep a close eye on Esab and H&E Equipment as they attempt to continue their solid performance.
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Is ESAB Corporation (ESAB) Stock Outpacing Its Industrial Products Peers 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. Esab (ESAB - 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.
Esab is one of 227 individual stocks in the Industrial Products sector. Collectively, these companies sit at #4 in 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. Esab is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ESAB's full-year earnings has moved 1.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ESAB has gained about 3.4% so far this year. Meanwhile, the Industrial Products sector has returned an average of 1.2% on a year-to-date basis. This means that Esab is performing better than its sector in terms of year-to-date returns.
One other Industrial Products stock that has outperformed the sector so far this year is H&E Equipment (HEES - Free Report) . The stock is up 1.2% year-to-date.
Over the past three months, H&E Equipment's consensus EPS estimate for the current year has increased 1.6%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Esab belongs to the Metal Products - Procurement and Fabrication industry, a group that includes 12 individual companies and currently sits at #164 in the Zacks Industry Rank. On average, stocks in this group have lost 1.9% this year, meaning that ESAB is performing better in terms of year-to-date returns.
On the other hand, H&E Equipment belongs to the Manufacturing - Construction and Mining industry. This 7-stock industry is currently ranked #31. The industry has moved +5.8% year to date.
Investors interested in the Industrial Products sector may want to keep a close eye on Esab and H&E Equipment as they attempt to continue their solid performance.