Yahoo Finance Are Industrial Products Stocks Lagging Reliance Steel & Aluminum Co. (RS) 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 Reliance Steel (RS) 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.
Reliance Steel 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 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Reliance Steel is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for RS' full-year earnings has moved 25.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, RS has moved about 23.8% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 1.4%. This means that Reliance Steel is outperforming the sector as a whole this year.
Siemens AG (SIEGY) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 12.3%.
The consensus estimate for Siemens AG's current year EPS has increased 0.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Reliance Steel belongs to the Metal Products - Distribution industry, a group that includes 5 individual stocks and currently sits at #34 in the Zacks Industry Rank. Stocks in this group have gained about 13.5% so far this year, so RS is performing better this group in terms of year-to-date returns.
Siemens AG, however, belongs to the Industrial Services industry. Currently, this 23-stock industry is ranked #29. The industry has moved +16.2% so far this year.
Investors interested in the Industrial Products sector may want to keep a close eye on Reliance Steel and Siemens AG as they attempt to continue their solid performance.
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