For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Apogee Enterprises (APOG - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Apogee Enterprises is one of 208 companies in the Industrial Products group. The Industrial Products group currently sits at #10 within the Zacks Sector Rank. 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 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. APOG is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for APOG's full-year earnings has moved 4.08% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, APOG has gained about 8.70% so far this year. At the same time, Industrial Products stocks have lost an average of 6.33%. This shows that Apogee Enterprises is outperforming its peers so far this year.
Breaking things down more, APOG is a member of the Glass Products industry, which includes 3 individual companies and currently sits at #26 in the Zacks Industry Rank. This group has lost an average of 9.69% so far this year, so APOG is performing better in this area.
APOG will likely be looking to continue its solid performance, so investors interested Industrial Products stocks should continue to pay close attention to the company.