Investors focused on the Industrial Products space have likely heard of Astec Industries (ASTE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of ASTE and the rest of the Industrial Products group's stocks.
Astec Industries is a member of our Industrial Products group, which includes 219 different companies and currently sits at #9 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. ASTE is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ASTE's full-year earnings has moved 5.69% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ASTE has moved about 6.21% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of -14.09%. As we can see, Astec Industries is performing better than its sector in the calendar year.
To break things down more, ASTE belongs to the Manufacturing - Construction and Mining industry, a group that includes 8 individual companies and currently sits at #166 in the Zacks Industry Rank. Stocks in this group have lost about 16.63% so far this year, so ASTE is performing better this group in terms of year-to-date returns.
Investors with an interest in Industrial Products stocks should continue to track ASTE. The stock will be looking to continue its solid performance.