For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has EnerSys (ENS) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.
EnerSys is one of 201 companies in the Industrial Products group. The Industrial Products group currently sits at #12 within 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 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. EnerSys is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ENS' full-year earnings has moved 12.8% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ENS has returned about 10.5% since the start of the calendar year. Meanwhile, stocks in the Industrial Products group have lost about 0.7% on average. As we can see, EnerSys is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, RBC Bearings (RBC), has outperformed the sector so far this year. The stock's year-to-date return is 19.4%.
For RBC Bearings, the consensus EPS estimate for the current year has increased 2.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, EnerSys belongs to the Manufacturing - Electronics industry, a group that includes 16 individual stocks and currently sits at #132 in the Zacks Industry Rank. On average, this group has lost an average of 6.3% so far this year, meaning that ENS is performing better in terms of year-to-date returns.
On the other hand, RBC Bearings belongs to the Manufacturing - General Industrial industry. This 39-stock industry is currently ranked #141. The industry has moved +2% year to date.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to EnerSys and RBC Bearings as they could maintain their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).
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