For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Generac Holdings (GNRC) 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.
Generac Holdings is a member of the Industrial Products sector. This group includes 186 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Generac Holdings is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for GNRC's full-year earnings has moved 9.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, GNRC has moved about 51.5% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of 17.2% on a year-to-date basis. This means that Generac Holdings is outperforming the sector as a whole this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Atkore Inc. (ATKR). The stock has returned 48% year-to-date.
For Atkore Inc., the consensus EPS estimate for the current year has increased 8.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Generac Holdings belongs to the Manufacturing - General Industrial industry, which includes 41 individual stocks and currently sits at #75 in the Zacks Industry Rank. On average, this group has gained an average of 7.5% so far this year, meaning that GNRC is performing better in terms of year-to-date returns.
In contrast, Atkore Inc. falls under the Wire and Cable Products industry. Currently, this industry has 2 stocks and is ranked #101. Since the beginning of the year, the industry has moved +46.8%.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Generac Holdings and Atkore Inc. as they could maintain their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).