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 Idex (IEX) been one of those stocks this year? 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.
Idex is a member of the Industrial Products sector. This group includes 186 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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. Idex is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for IEX's full-year earnings has moved 4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, IEX has gained about 29.3% so far this year. At the same time, Industrial Products stocks have gained an average of 15.5%. This shows that Idex is outperforming its peers so far this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Murata Manufacturing Inc. (MRAAY). The stock has returned 150% year-to-date.
For Murata Manufacturing Inc., the consensus EPS estimate for the current year has increased 25.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Idex belongs to the Manufacturing - General Industrial industry, a group that includes 41 individual stocks and currently sits at #157 in the Zacks Industry Rank. This group has gained an average of 2.7% so far this year, so IEX is performing better in this area.
Murata Manufacturing Inc., however, belongs to the Manufacturing - Electronics industry. Currently, this 14-stock industry is ranked #71. The industry has moved +28.7% so far this year.
Investors with an interest in Industrial Products stocks should continue to track Idex and Murata Manufacturing Inc.. These stocks will be looking to continue their solid performance.
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IDEX Corporation (IEX): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).