The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Atkore Inc. (ATKR) 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.
Atkore Inc. is one of 186 individual stocks in the Industrial Products sector. Collectively, these companies sit at #5 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. Atkore Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ATKR's full-year earnings has moved 8.4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ATKR has gained about 48.2% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 20.2% on average. This means that Atkore Inc. is outperforming the sector as a whole this year.
One other Industrial Products stock that has outperformed the sector so far this year is Keyence Corporation (KYCCF). The stock is up 52.3% year-to-date.
Over the past three months, Keyence Corporation's consensus EPS estimate for the current year has increased 0.1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Atkore Inc. belongs to the Wire and Cable Products industry, a group that includes 2 individual stocks and currently sits at #108 in the Zacks Industry Rank. On average, this group has gained an average of 47.2% so far this year, meaning that ATKR is performing better in terms of year-to-date returns.
On the other hand, Keyence Corporation belongs to the Manufacturing - General Industrial industry. This 41-stock industry is currently ranked #63. The industry has moved +11.6% year to date.
Investors with an interest in Industrial Products stocks should continue to track Atkore Inc. and Keyence Corporation. These stocks will be looking to continue their solid performance.
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Atkore Inc. (ATKR): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).