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Is Gates Industrial (GTES) Outperforming Other Industrial Products Stocks 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. Gates Industrial (GTES - 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? Let's take a closer look at the stock's year-to-date performance to find out.
Gates Industrial is one of 187 companies in the Industrial Products group. The Industrial Products group currently sits at #5 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 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. Gates Industrial is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for GTES' full-year earnings has moved 5.7% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, GTES has moved about 22.6% on a year-to-date basis. At the same time, Industrial Products stocks have gained an average of 7.8%. This shows that Gates Industrial is outperforming its peers so far this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Helios Technologies (HLIO - Free Report) . The stock has returned 17.4% year-to-date.
In Helios Technologies' case, the consensus EPS estimate for the current year increased 34.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Gates Industrial is a member of the Manufacturing - General Industrial industry, which includes 41 individual companies and currently sits at #40 in the Zacks Industry Rank. This group has gained an average of 6.7% so far this year, so GTES is performing better in this area. Helios Technologies is also part of the same industry.
Gates Industrial and Helios Technologies 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 Gates Industrial (GTES) Outperforming Other Industrial Products Stocks 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. Gates Industrial (GTES - 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? Let's take a closer look at the stock's year-to-date performance to find out.
Gates Industrial is one of 187 companies in the Industrial Products group. The Industrial Products group currently sits at #5 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 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. Gates Industrial is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for GTES' full-year earnings has moved 5.7% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, GTES has moved about 22.6% on a year-to-date basis. At the same time, Industrial Products stocks have gained an average of 7.8%. This shows that Gates Industrial is outperforming its peers so far this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Helios Technologies (HLIO - Free Report) . The stock has returned 17.4% year-to-date.
In Helios Technologies' case, the consensus EPS estimate for the current year increased 34.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Gates Industrial is a member of the Manufacturing - General Industrial industry, which includes 41 individual companies and currently sits at #40 in the Zacks Industry Rank. This group has gained an average of 6.7% so far this year, so GTES is performing better in this area. Helios Technologies is also part of the same industry.
Gates Industrial and Helios Technologies could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.