Is Atkore (ATKR) Stock Outpacing Its Industrial Products Peers This Year?

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 Atkore Inc. (ATKR) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.

Atkore Inc. is one of 186 companies in the Industrial Products group. The Industrial Products group currently sits at #7 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Atkore Inc. is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ATKR's full-year earnings has moved 8.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, ATKR has returned 49.8% so far this year. In comparison, Industrial Products companies have returned an average of 14.8%. This means that Atkore Inc. is performing better than its sector in terms of year-to-date returns.

One other Industrial Products stock that has outperformed the sector so far this year is Kornit Digital (KRNT). The stock is up 15.1% year-to-date.

Over the past three months, Kornit Digital's consensus EPS estimate for the current year has increased 16.4%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Atkore Inc. belongs to the Wire and Cable Products industry, which includes 2 individual stocks and currently sits at #107 in the Zacks Industry Rank. Stocks in this group have gained about 48.4% so far this year, so ATKR is performing better this group in terms of year-to-date returns.

Kornit Digital, however, belongs to the Commercial Printing industry. Currently, this 4-stock industry is ranked #107. The industry has moved +8.8% so far this year.

Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Atkore Inc. and Kornit Digital as they could maintain their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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