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

Zacks Equity Research
·2 min read

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Applied Industrial Technologies (AIT) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Applied Industrial Technologies is a member of the Industrial Products sector. This group includes 220 individual stocks and currently holds a Zacks Sector Rank of #10. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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 90 days, the Zacks Consensus Estimate for AIT's full-year earnings has moved 4.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Our latest available data shows that AIT has returned about 5.1% since the start of the calendar year. Meanwhile, stocks in the Industrial Products group have lost about 23.4% on average. This shows that Applied Industrial Technologies is outperforming its peers so far this year.

Another stock in the Industrial Products sector, Tenaris S.A. (TS), has outperformed the sector so far this year. The stock's year-to-date return is 39.6%.

The consensus estimate for Tenaris S.A.'s current year EPS has increased 10% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, Applied Industrial Technologies is a member of the Manufacturing - General Industrial industry, which includes 38 individual companies and currently sits at #86 in the Zacks Industry Rank. On average, stocks in this group have lost 24% this year, meaning that AIT is performing better in terms of year-to-date returns.

Tenaris S.A. however, belongs to the Steel - Pipe and Tube industry. Currently, this 4-stock industry is ranked #11. The industry has moved +23.4% so far this year.

Investors interested in the Industrial Products sector may want to keep a close eye on Applied Industrial Technologies and Tenaris S.A. as they attempt to continue their solid performance.


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Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report
 
Tenaris S.A. (TS) : Free Stock Analysis Report
 
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Zacks Investment Research