Is Carlisle Companies (CSL) Outperforming Other Conglomerates Stocks This Year?

For those looking to find strong Conglomerates stocks, it is prudent to search for companies in the group that are outperforming their peers. Carlisle (CSL) 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 Conglomerates sector should help us answer this question.

Carlisle is one of 19 companies in the Conglomerates group. The Conglomerates group currently sits at #4 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 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. Carlisle is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CSL's full-year earnings has moved 1.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, CSL has moved about 12.9% on a year-to-date basis. At the same time, Conglomerates stocks have gained an average of 9.5%. This shows that Carlisle is outperforming its peers so far this year.

Another stock in the Conglomerates sector, Sumitomo Corp. (SSUMY), has outperformed the sector so far this year. The stock's year-to-date return is 16.6%.

Over the past three months, Sumitomo Corp.'s consensus EPS estimate for the current year has increased 1.2%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Carlisle belongs to the Diversified Operations industry, a group that includes 19 individual stocks and currently sits at #100 in the Zacks Industry Rank. On average, stocks in this group have gained 9.5% this year, meaning that CSL is performing better in terms of year-to-date returns. Sumitomo Corp. is also part of the same industry.

Investors interested in the Conglomerates sector may want to keep a close eye on Carlisle and Sumitomo Corp. as they attempt to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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