The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. AmpcoPittsburgh (AP - 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 AP and the rest of the Industrial Products group's stocks.
AmpcoPittsburgh is a member of our Industrial Products group, which includes 220 different companies and currently sits at #12 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 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. AP is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AP's full-year earnings has moved 871.43% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, AP has moved about 6.31% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of -23.19% on a year-to-date basis. As we can see, AmpcoPittsburgh is performing better than its sector in the calendar year.
Breaking things down more, AP is a member of the Metal Products - Procurement and Fabrication industry, which includes 13 individual companies and currently sits at #217 in the Zacks Industry Rank. Stocks in this group have lost about 41.43% so far this year, so AP is performing better this group in terms of year-to-date returns.
Investors with an interest in Industrial Products stocks should continue to track AP. The stock will be looking to continue its solid performance.