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Are Industrial Products Stocks Lagging DNOW INC (DNOW) 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. Has DNOW (DNOW - Free Report) been one of those stocks this year? 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 sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 10.3% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that DNOW has returned about 29.2% since the start of the calendar year. Meanwhile, stocks in the Industrial Products group have gained about 7.4% on average. 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 33.4% year-to-date.
Over the past three months, Encore Wire's consensus EPS estimate for the current year has increased 33.6%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, DNOW belongs to the Manufacturing - General Industrial industry, which includes 44 individual stocks and currently sits at #63 in the Zacks Industry Rank. Stocks in this group have gained about 7.3% so far this year, so DNOW is performing better this group in terms of year-to-date returns.
On the other hand, Encore Wire belongs to the Wire and Cable Products industry. This 4-stock industry is currently ranked #21. The industry has moved +16.1% year to date.
DNOW and Encore Wire 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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Are Industrial Products Stocks Lagging DNOW INC (DNOW) This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has DNOW (DNOW - Free Report) been one of those stocks this year? 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 sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 10.3% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that DNOW has returned about 29.2% since the start of the calendar year. Meanwhile, stocks in the Industrial Products group have gained about 7.4% on average. 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 33.4% year-to-date.
Over the past three months, Encore Wire's consensus EPS estimate for the current year has increased 33.6%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, DNOW belongs to the Manufacturing - General Industrial industry, which includes 44 individual stocks and currently sits at #63 in the Zacks Industry Rank. Stocks in this group have gained about 7.3% so far this year, so DNOW is performing better this group in terms of year-to-date returns.
On the other hand, Encore Wire belongs to the Wire and Cable Products industry. This 4-stock industry is currently ranked #21. The industry has moved +16.1% year to date.
DNOW and Encore Wire could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.