Yahoo Finance Is ESAB Corporation (ESAB) Outperforming Other Industrial Products Stocks This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Esab (ESAB) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Esab is a member of the Industrial Products sector. This group includes 222 individual stocks and currently holds a Zacks Sector Rank of #4. 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. Esab is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ESAB's full-year earnings has moved 0.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ESAB has moved about 24.1% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of 7.9% on a year-to-date basis. This shows that Esab is outperforming its peers so far this year.
Eaton (ETN) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 32.4%.
The consensus estimate for Eaton's current year EPS has increased 2.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Esab belongs to the Metal Products - Procurement and Fabrication industry, which includes 11 individual stocks and currently sits at #93 in the Zacks Industry Rank. This group has gained an average of 14.9% so far this year, so ESAB is performing better in this area.
On the other hand, Eaton belongs to the Manufacturing - Electronics industry. This 16-stock industry is currently ranked #154. The industry has moved +16.6% year to date.
Investors with an interest in Industrial Products stocks should continue to track Esab and Eaton. These stocks will be looking to continue their solid performance.
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ESAB Corporation (ESAB) : Free Stock Analysis Report
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