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Is The Middleby (MIDD) 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. Has Middleby (MIDD - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Middleby is one of 187 individual stocks in the Industrial Products sector. Collectively, these companies sit at #6 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 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. Middleby is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MIDD's full-year earnings has moved 2.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, MIDD has returned 6.5% so far this year. In comparison, Industrial Products companies have returned an average of 5.3%. This means that Middleby 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 Nordson (NDSN - Free Report) . The stock is up 13.8% year-to-date.
For Nordson, the consensus EPS estimate for the current year has increased 1.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Middleby is a member of the Manufacturing - General Industrial industry, which includes 41 individual companies and currently sits at #99 in the Zacks Industry Rank. Stocks in this group have gained about 7.9% so far this year, so MIDD is slightly underperforming its industry this group in terms of year-to-date returns. Nordson is also part of the same industry.
Middleby and Nordson 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 The Middleby (MIDD) 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. Has Middleby (MIDD - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Middleby is one of 187 individual stocks in the Industrial Products sector. Collectively, these companies sit at #6 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 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. Middleby is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MIDD's full-year earnings has moved 2.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, MIDD has returned 6.5% so far this year. In comparison, Industrial Products companies have returned an average of 5.3%. This means that Middleby 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 Nordson (NDSN - Free Report) . The stock is up 13.8% year-to-date.
For Nordson, the consensus EPS estimate for the current year has increased 1.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Middleby is a member of the Manufacturing - General Industrial industry, which includes 41 individual companies and currently sits at #99 in the Zacks Industry Rank. Stocks in this group have gained about 7.9% so far this year, so MIDD is slightly underperforming its industry this group in terms of year-to-date returns. Nordson is also part of the same industry.
Middleby and Nordson could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.