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Is DNOW INC (DNOW) 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. Is DNOW (DNOW - Free Report) one of those stocks right now? 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.
DNOW is a member of our Industrial Products group, which includes 222 different companies and currently sits at #3 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. DNOW is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for DNOW's full-year earnings has moved 10.9% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, DNOW has gained about 33.4% so far this year. Meanwhile, the Industrial Products sector has returned an average of 10.8% on a year-to-date basis. This means that DNOW 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 Encore Wire (WIRE - Free Report) . The stock is up 20.9% year-to-date.
The consensus estimate for Encore Wire's current year EPS has increased 4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, DNOW belongs to the Manufacturing - General Industrial industry, a group that includes 44 individual stocks and currently sits at #67 in the Zacks Industry Rank. Stocks in this group have gained about 9.5% so far this year, so DNOW is performing better this group in terms of year-to-date returns.
In contrast, Encore Wire falls under the Wire and Cable Products industry. Currently, this industry has 4 stocks and is ranked #39. Since the beginning of the year, the industry has moved +11.5%.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to DNOW and Encore Wire as they could maintain their solid performance.
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Is DNOW INC (DNOW) 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. Is DNOW (DNOW - Free Report) one of those stocks right now? 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.
DNOW is a member of our Industrial Products group, which includes 222 different companies and currently sits at #3 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. DNOW is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for DNOW's full-year earnings has moved 10.9% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, DNOW has gained about 33.4% so far this year. Meanwhile, the Industrial Products sector has returned an average of 10.8% on a year-to-date basis. This means that DNOW 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 Encore Wire (WIRE - Free Report) . The stock is up 20.9% year-to-date.
The consensus estimate for Encore Wire's current year EPS has increased 4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, DNOW belongs to the Manufacturing - General Industrial industry, a group that includes 44 individual stocks and currently sits at #67 in the Zacks Industry Rank. Stocks in this group have gained about 9.5% so far this year, so DNOW is performing better this group in terms of year-to-date returns.
In contrast, Encore Wire falls under the Wire and Cable Products industry. Currently, this industry has 4 stocks and is ranked #39. Since the beginning of the year, the industry has moved +11.5%.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to DNOW and Encore Wire as they could maintain their solid performance.