The Conglomerates group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is ITT (ITT) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
ITT is a member of our Conglomerates group, which includes 19 different companies and currently sits at #7 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 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. ITT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ITT's full-year earnings has moved 6.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ITT has returned 12.5% so far this year. In comparison, Conglomerates companies have returned an average of 9.1%. As we can see, ITT is performing better than its sector in the calendar year.
One other Conglomerates stock that has outperformed the sector so far this year is Marubeni Corp. (MARUY). The stock is up 13.7% year-to-date.
The consensus estimate for Marubeni Corp.'s current year EPS has increased 2.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, ITT is a member of the Diversified Operations industry, which includes 19 individual companies and currently sits at #109 in the Zacks Industry Rank. This group has gained an average of 9.1% so far this year, so ITT is performing better in this area. Marubeni Corp. is also part of the same industry.
ITT and Marubeni Corp. could continue their solid performance, so investors interested in Conglomerates stocks should continue to pay close attention to these stocks.
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This article originally published on Zacks Investment Research (zacks.com).