For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Ranpak Holdings Corp (PACK) 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? 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.
Ranpak Holdings Corp is one of 181 individual stocks in the Industrial Products sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Ranpak Holdings Corp is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PACK's full-year earnings has moved 26.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that PACK has returned about 27.7% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 15%. This means that Ranpak Holdings Corp is performing better than its sector in terms of year-to-date returns.
Tennant (TNC) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 17.9%.
The consensus estimate for Tennant's current year EPS has increased 6.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Ranpak Holdings Corp is a member of the Containers - Paper and Packaging industry, which includes 10 individual companies and currently sits at #213 in the Zacks Industry Rank. This group has lost an average of 4.1% so far this year, so PACK is performing better in this area.
In contrast, Tennant falls under the Manufacturing - General Industrial industry. Currently, this industry has 41 stocks and is ranked #66. Since the beginning of the year, the industry has moved +4.3%.
Investors interested in the Industrial Products sector may want to keep a close eye on Ranpak Holdings Corp and Tennant as they attempt to continue their solid performance.
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Ranpak Holdings Corp (PACK): Free Stock Analysis Report
Tennant Company (TNC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).