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 Fuel Tech (FTEK - 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.
Fuel Tech is a member of our Industrial Products group, which includes 215 different companies and currently sits at #4 in 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. FTEK is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for FTEK's full-year earnings has moved 400% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, FTEK has gained about 81.51% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 19.11% on average. As we can see, Fuel Tech is performing better than its sector in the calendar year.
Breaking things down more, FTEK is a member of the Pollution Control industry, which includes 14 individual companies and currently sits at #26 in the Zacks Industry Rank. Stocks in this group have gained about 19.11% so far this year, so FTEK is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to FTEK as it looks to continue its solid performance.