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 Atkore International Group (ATKR - Free Report) one of those stocks right now? 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.
Atkore International Group is one of 208 companies in the Industrial Products group. The Industrial Products group currently sits at #7 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. ATKR is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ATKR's full-year earnings has moved 10.39% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ATKR has moved about 23.68% on a year-to-date basis. At the same time, Industrial Products stocks have lost an average of 4.22%. This means that Atkore International Group is outperforming the sector as a whole this year.
Looking more specifically, ATKR belongs to the Wire and Cable Products industry, which includes 4 individual stocks and currently sits at #2 in the Zacks Industry Rank. On average, stocks in this group have gained 5.59% this year, meaning that ATKR is performing better in terms of year-to-date returns.
ATKR will likely be looking to continue its solid performance, so investors interested Industrial Products stocks should continue to pay close attention to the company.