The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Flowserve (FLS) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Flowserve is one of 179 companies in the Industrial Products group. The Industrial Products group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Flowserve is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for FLS' full-year earnings has moved 4.6% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, FLS has moved about 10.4% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 9.8%. This shows that Flowserve is outperforming its peers so far this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Powell Industries (POWL). The stock has returned 83.4% year-to-date.
The consensus estimate for Powell Industries' current year EPS has increased 7.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Flowserve belongs to the Manufacturing - General Industrial industry, a group that includes 43 individual companies and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 5.9% so far this year, so FLS is performing better in this area.
On the other hand, Powell Industries belongs to the Manufacturing - Electronics industry. This 13-stock industry is currently ranked #71. The industry has moved +11.5% year to date.
Investors interested in the Industrial Products sector may want to keep a close eye on Flowserve and Powell Industries as they attempt to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).