Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Is Sandvik AB (SDVKY) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.
Sandvik AB is one of 188 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Sandvik AB is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SDVKY's full-year earnings has moved 8.6% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, SDVKY has returned 23.3% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 17.2% on average. This shows that Sandvik AB is outperforming its peers so far this year.
Another stock in the Industrial Products sector, Valmont Industries (VMI), has outperformed the sector so far this year. The stock's year-to-date return is 34.2%.
In Valmont Industries' case, the consensus EPS estimate for the current year increased 4.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Sandvik AB belongs to the Manufacturing - Tools & Related Products industry, a group that includes 8 individual companies and currently sits at #82 in the Zacks Industry Rank. On average, stocks in this group have gained 3.7% this year, meaning that SDVKY is performing better in terms of year-to-date returns.
Valmont Industries, however, belongs to the Steel - Pipe and Tube industry. Currently, this 2-stock industry is ranked #4. The industry has moved +43.3% so far this year.
Investors with an interest in Industrial Products stocks should continue to track Sandvik AB and Valmont Industries. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).