The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Idex (IEX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Idex is a member of our Industrial Products group, which includes 181 different companies and currently sits 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Idex is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for IEX's full-year earnings has moved 3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, IEX has returned 21.9% so far this year. At the same time, Industrial Products stocks have gained an average of 15.6%. As we can see, Idex is performing better than its sector in the calendar year.
Another Industrial Products stock, which has outperformed the sector so far this year, is TriMas (TRS). The stock has returned 15.7% year-to-date.
In TriMas' case, the consensus EPS estimate for the current year increased 5% 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, which includes 41 individual stocks and currently sits at #93 in the Zacks Industry Rank. On average, stocks in this group have gained 6% this year, meaning that IEX is performing better in terms of year-to-date returns.
On the other hand, TriMas belongs to the Metal Products - Procurement and Fabrication industry. This 6-stock industry is currently ranked #29. The industry has moved +15.8% year to date.
Idex and TriMas 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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IDEX Corporation (IEX): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).