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 Fanuc Corp. (FANUY) 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.
Fanuc Corp. is a member of our Industrial Products group, which includes 181 different companies and currently sits at #7 in 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 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. Fanuc Corp. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FANUY's full-year earnings has moved 3.1% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, FANUY has returned 17.5% so far this year. In comparison, Industrial Products companies have returned an average of 15.6%. This means that Fanuc Corp. is performing better than its sector in terms of year-to-date returns.
Caterpillar (CAT) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 59.8%.
The consensus estimate for Caterpillar's current year EPS has increased 8.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Fanuc Corp. belongs to the Industrial Automation and Robotics industry, a group that includes 1 individual companies and currently sits at #6 in the Zacks Industry Rank.
Caterpillar, however, belongs to the Manufacturing - Construction and Mining industry. Currently, this 6-stock industry is ranked #184. The industry has moved +51.9% so far this year.
Fanuc Corp. and Caterpillar could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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Fanuc Corp. (FANUY): Free Stock Analysis Report
Caterpillar Inc. (CAT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).