Investors focused on the Conglomerates space have likely heard of Crane (CR - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Crane is a member of the Conglomerates sector. This group includes 26 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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. CR is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CR's full-year earnings has moved 2.37% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CR has gained about 1.51% so far this year. In comparison, Conglomerates companies have returned an average of -3.43%. This means that Crane is outperforming the sector as a whole this year.
Looking more specifically, CR belongs to the Diversified Operations industry, which includes 26 individual stocks and currently sits at #80 in the Zacks Industry Rank. Stocks in this group have lost about 3.43% so far this year, so CR is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Conglomerates stocks should continue to pay close attention to CR as it looks to continue its solid performance.