The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Deere (DE) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Deere is a member of the Industrial Products sector. This group includes 188 individual stocks and currently holds a Zacks Sector Rank of #9. 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. Deere is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DE's full-year earnings has moved 2.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, DE has returned 43.4% so far this year. At the same time, Industrial Products stocks have gained an average of 9.3%. As we can see, Deere is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, Enerpac (EPAC), has outperformed the sector so far this year. The stock's year-to-date return is 13.6%.
Over the past three months, Enerpac's consensus EPS estimate for the current year has increased 0.9%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Deere belongs to the Manufacturing - Farm Equipment industry, which includes 6 individual stocks and currently sits at #174 in the Zacks Industry Rank. This group has gained an average of 39.7% so far this year, so DE is performing better in this area.
Enerpac, however, belongs to the Manufacturing - Tools & Related Products industry. Currently, this 8-stock industry is ranked #84. The industry has moved +17.1% so far this year.
Investors with an interest in Industrial Products stocks should continue to track Deere and Enerpac. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).