Yahoo Finance Is Fanuc (FANUY) 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. Has Fanuc Corp. (FANUY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Fanuc Corp. is one of 219 individual stocks in the Industrial Products sector. Collectively, these companies sit at #1 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 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. Fanuc Corp. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for FANUY's full-year earnings has moved 7.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FANUY has returned about 17% since the start of the calendar year. At the same time, Industrial Products stocks have lost an average of 0.9%. This means that Fanuc Corp. is performing better than its sector in terms of year-to-date returns.
Another Industrial Products stock, which has outperformed the sector so far this year, is Global Industrial (GIC). The stock has returned 8.4% year-to-date.
Over the past three months, Global Industrial's consensus EPS estimate for the current year has increased 5.1%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Fanuc Corp. is a member of the Industrial Automation and Robotics industry, which includes 3 individual companies and currently sits at #38 in the Zacks Industry Rank. On average, this group has gained an average of 7.1% so far this year, meaning that FANUY is performing better in terms of year-to-date returns.
On the other hand, Global Industrial belongs to the Industrial Services industry. This 23-stock industry is currently ranked #26. The industry has moved +13.5% year to date.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Fanuc Corp. and Global Industrial as they could maintain their solid performance.
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