Yahoo Finance Is Bodycote (BYPLF) Outperforming Other Industrial Products Stocks 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 Bodycote (BYPLF) 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.
Bodycote is one of 217 companies in the Industrial Products group. The Industrial Products group currently sits at #1 within the Zacks Sector Rank. 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 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. Bodycote is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BYPLF's full-year earnings has moved 7.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BYPLF has gained about 15.1% so far this year. Meanwhile, the Industrial Products sector has returned an average of 0.9% on a year-to-date basis. This means that Bodycote is performing better than its sector in terms of year-to-date returns.
Circor (CIR) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 14.4%.
The consensus estimate for Circor's current year EPS has increased 32% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Bodycote belongs to the Manufacturing - Thermal Products industry, a group that includes 4 individual stocks and currently sits at #23 in the Zacks Industry Rank. Stocks in this group have gained about 15.5% so far this year, so BYPLF is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Circor falls under the Metal Products - Procurement and Fabrication industry. Currently, this industry has 11 stocks and is ranked #15. Since the beginning of the year, the industry has moved +11.9%.
Bodycote and Circor 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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