Yahoo Finance Has Terex (TEX) Outpaced 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. Is Terex (TEX) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Terex is one of 218 companies in the Industrial Products group. The Industrial Products group currently sits at #1 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 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. Terex is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for TEX's full-year earnings has moved 2.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that TEX has returned about 4.2% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 0%. As we can see, Terex is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, Tetra Tech (TTEK), has outperformed the sector so far this year. The stock's year-to-date return is 1%.
In Tetra Tech's case, the consensus EPS estimate for the current year increased 3.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Terex belongs to the Manufacturing - Construction and Mining industry, which includes 6 individual stocks and currently sits at #11 in the Zacks Industry Rank. On average, this group has lost an average of 6.6% so far this year, meaning that TEX is performing better in terms of year-to-date returns.
Tetra Tech, however, belongs to the Pollution Control industry. Currently, this 10-stock industry is ranked #39. The industry has moved +1.3% so far this year.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Terex and Tetra Tech as they could maintain their solid performance.
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