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Are Industrial Products Stocks Lagging Core & Main (CNM) 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. Core & Main (CNM - 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.
Core & Main is one of 187 companies in the Industrial Products group. The Industrial Products group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Core & Main is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CNM's full-year earnings has moved 0.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CNM has gained about 11.6% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 10.9% on average. This means that Core & Main is outperforming the sector as a whole this year.
EnerSys (ENS - 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 63.5%.
For EnerSys, the consensus EPS estimate for the current year has increased 5.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Core & Main is a member of the Manufacturing - Tools & Related Products industry, which includes 8 individual companies and currently sits at #15 in the Zacks Industry Rank. This group has gained an average of 11.9% so far this year, so CNM is slightly underperforming its industry in this area.
On the other hand, EnerSys belongs to the Manufacturing - Electronics industry. This 15-stock industry is currently ranked #57. The industry has moved +8.6% year to date.
Core & Main and EnerSys 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 Core & Main (CNM) 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. Core & Main (CNM - 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.
Core & Main is one of 187 companies in the Industrial Products group. The Industrial Products group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Core & Main is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CNM's full-year earnings has moved 0.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CNM has gained about 11.6% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 10.9% on average. This means that Core & Main is outperforming the sector as a whole this year.
EnerSys (ENS - 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 63.5%.
For EnerSys, the consensus EPS estimate for the current year has increased 5.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Core & Main is a member of the Manufacturing - Tools & Related Products industry, which includes 8 individual companies and currently sits at #15 in the Zacks Industry Rank. This group has gained an average of 11.9% so far this year, so CNM is slightly underperforming its industry in this area.
On the other hand, EnerSys belongs to the Manufacturing - Electronics industry. This 15-stock industry is currently ranked #57. The industry has moved +8.6% year to date.
Core & Main and EnerSys could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.