Investors focused on the Industrial Products space have likely heard of Caterpillar (CAT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Caterpillar is a member of the Industrial Products sector. This group includes 205 individual stocks and currently holds a Zacks Sector Rank of #6. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. CAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CAT's full-year earnings has moved 8.46% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CAT has returned 0.41% so far this year. Meanwhile, stocks in the Industrial Products group have lost about 2.58% on average. This means that Caterpillar is outperforming the sector as a whole this year.
Looking more specifically, CAT belongs to the Manufacturing - Construction and Mining industry, which includes 8 individual stocks and currently sits at #243 in the Zacks Industry Rank. This group has gained an average of 1.32% so far this year, so CAT is slightly underperforming its industry in this area.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to CAT as it looks to continue its solid performance.