Yahoo Finance Are Industrial Products Stocks Lagging ParkerHannifin (PH) This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Parker-Hannifin (PH) 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? 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.
Parker-Hannifin is one of 217 individual stocks in the Industrial Products sector. Collectively, these companies sit at #2 in 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 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. Parker-Hannifin is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PH's full-year earnings has moved 6.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, PH has gained about 13.7% so far this year. In comparison, Industrial Products companies have returned an average of 0.1%. As we can see, Parker-Hannifin is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is Terex (TEX). The stock is up 12.4% year-to-date.
For Terex, the consensus EPS estimate for the current year has increased 22% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Parker-Hannifin is a member of the Manufacturing - General Industrial industry, which includes 37 individual companies and currently sits at #29 in the Zacks Industry Rank. On average, this group has gained an average of 4.8% so far this year, meaning that PH is performing better in terms of year-to-date returns.
On the other hand, Terex belongs to the Manufacturing - Construction and Mining industry. This 6-stock industry is currently ranked #4. The industry has moved -10% year to date.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Parker-Hannifin and Terex as they could maintain their solid performance.
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Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
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