Yahoo Finance Is Applied Industrial Technologies (AIT) 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. Has Applied Industrial Technologies (AIT) 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.
Applied Industrial Technologies is a member of the Industrial Products sector. This group includes 222 individual stocks and currently holds a Zacks Sector Rank of #3. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. 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 0.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, AIT has moved about 12.5% on a year-to-date basis. At the same time, Industrial Products stocks have gained an average of 11.3%. This shows that Applied Industrial Technologies is outperforming its peers so far this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is DXP Enterprises (DXPE). The stock has returned 62% year-to-date.
The consensus estimate for DXP Enterprises' current year EPS has increased 13% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Applied Industrial Technologies belongs to the Manufacturing - General Industrial industry, a group that includes 44 individual stocks and currently sits at #83 in the Zacks Industry Rank. On average, this group has gained an average of 9.9% so far this year, meaning that AIT is performing better in terms of year-to-date returns. DXP Enterprises is also part of the same industry.
Investors with an interest in Industrial Products stocks should continue to track Applied Industrial Technologies and DXP Enterprises. These stocks will be looking to continue their solid performance.
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Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report
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