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Has ITT (ITT) Outpaced Other Conglomerates Stocks This Year?
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Investors interested in Conglomerates stocks should always be looking to find the best-performing companies in the group. Is ITT (ITT - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
ITT is a member of the Conglomerates sector. This group includes 19 individual stocks and currently holds a Zacks Sector Rank of #13. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ITT is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ITT's full-year earnings has moved 5.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ITT has returned 25.1% so far this year. In comparison, Conglomerates companies have returned an average of 5.5%. This means that ITT is performing better than its sector in terms of year-to-date returns.
Sumitomo Corp. (SSUMY - Free Report) is another Conglomerates stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 6%.
In Sumitomo Corp.'s case, the consensus EPS estimate for the current year increased 2.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, ITT is a member of the Diversified Operations industry, which includes 19 individual companies and currently sits at #168 in the Zacks Industry Rank. On average, stocks in this group have gained 5.5% this year, meaning that ITT is performing better in terms of year-to-date returns. Sumitomo Corp. is also part of the same industry.
Going forward, investors interested in Conglomerates stocks should continue to pay close attention to ITT and Sumitomo Corp. as they could maintain their solid performance.
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Has ITT (ITT) Outpaced Other Conglomerates Stocks This Year?
Investors interested in Conglomerates stocks should always be looking to find the best-performing companies in the group. Is ITT (ITT - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
ITT is a member of the Conglomerates sector. This group includes 19 individual stocks and currently holds a Zacks Sector Rank of #13. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ITT is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ITT's full-year earnings has moved 5.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ITT has returned 25.1% so far this year. In comparison, Conglomerates companies have returned an average of 5.5%. This means that ITT is performing better than its sector in terms of year-to-date returns.
Sumitomo Corp. (SSUMY - Free Report) is another Conglomerates stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 6%.
In Sumitomo Corp.'s case, the consensus EPS estimate for the current year increased 2.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, ITT is a member of the Diversified Operations industry, which includes 19 individual companies and currently sits at #168 in the Zacks Industry Rank. On average, stocks in this group have gained 5.5% this year, meaning that ITT is performing better in terms of year-to-date returns. Sumitomo Corp. is also part of the same industry.
Going forward, investors interested in Conglomerates stocks should continue to pay close attention to ITT and Sumitomo Corp. as they could maintain their solid performance.