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Has Applied Industrial Technologies (AIT) Outpaced Other Industrial Products Stocks This Year?

Zacks Equity Research
·2-min read

Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Applied Industrial Technologies (AIT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.

Applied Industrial Technologies is a member of our Industrial Products group, which includes 229 different companies and currently sits at #9 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. Applied Industrial Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for AIT's full-year earnings has moved 5.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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According to our latest data, AIT has moved about 3.5% on a year-to-date basis. At the same time, Industrial Products stocks have lost an average of 20.1%. This means that Applied Industrial Technologies is outperforming the sector as a whole this year.

Silgan Holdings (SLGN) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 4.1%.

Over the past three months, Silgan Holdings' consensus EPS estimate for the current year has increased 2.6%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Applied Industrial Technologies belongs to the Manufacturing - General Industrial industry, a group that includes 42 individual stocks and currently sits at #101 in the Zacks Industry Rank. This group has lost an average of 29.6% so far this year, so AIT is performing better in this area.

In contrast, Silgan Holdings falls under the Containers - Metal and Glass industry. Currently, this industry has 3 stocks and is ranked #101. Since the beginning of the year, the industry has moved -19.3%.

Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Applied Industrial Technologies and Silgan Holdings as they could maintain their solid performance.


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Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report
 
Silgan Holdings Inc. (SLGN) : Free Stock Analysis Report
 
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