For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. W.W. Grainger (GWW - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of GWW and the rest of the Industrial Products group's stocks.
W.W. Grainger is a member of our Industrial Products group, which includes 208 different companies and currently sits at #8 in 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 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. GWW is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for GWW's full-year earnings has moved 7.64% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, GWW has gained about 50.69% so far this year. Meanwhile, stocks in the Industrial Products group have lost about 3.36% on average. This means that W.W. Grainger is performing better than its sector in terms of year-to-date returns.
Breaking things down more, GWW is a member of the Industrial Services industry, which includes 15 individual companies and currently sits at #98 in the Zacks Industry Rank. On average, stocks in this group have gained 24.85% this year, meaning that GWW is performing better in terms of year-to-date returns.
GWW will likely be looking to continue its solid performance, so investors interested Industrial Products stocks should continue to pay close attention to the company.