For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Gorman-Rupp (GRC) been one of those stocks this year? 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.
Gorman-Rupp is one of 181 companies in the Industrial Products group. The Industrial Products group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Gorman-Rupp is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for GRC's full-year earnings has moved 12.1% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, GRC has moved about 78% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 19.4%. This means that Gorman-Rupp is outperforming the sector as a whole this year.
Ranpak Holdings Corp (PACK) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 37.9%.
For Ranpak Holdings Corp, the consensus EPS estimate for the current year has increased 7.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Gorman-Rupp belongs to the Manufacturing - General Industrial industry, which includes 41 individual stocks and currently sits at #79 in the Zacks Industry Rank. On average, stocks in this group have gained 9.7% this year, meaning that GRC is performing better in terms of year-to-date returns.
In contrast, Ranpak Holdings Corp falls under the Containers - Paper and Packaging industry. Currently, this industry has 10 stocks and is ranked #182. Since the beginning of the year, the industry has moved -0.1%.
Investors with an interest in Industrial Products stocks should continue to track Gorman-Rupp and Ranpak Holdings Corp. These stocks will be looking to continue their solid performance.
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Gorman-Rupp Company (The) (GRC): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).