Yahoo News Has Enersys (ENS) Outpaced Other Industrial Products Stocks This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Has EnerSys (ENS) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
EnerSys is a member of the Industrial Products sector. This group includes 223 individual stocks and currently holds a Zacks Sector Rank of #5. 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. EnerSys is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ENS' full-year earnings has moved 26.9% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ENS has returned about 30.3% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 11%. This means that EnerSys is outperforming the sector as a whole this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Eaton (ETN). The stock has returned 39.6% year-to-date.
In Eaton's case, the consensus EPS estimate for the current year increased 4.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, EnerSys belongs to the Manufacturing - Electronics industry, a group that includes 17 individual stocks and currently sits at #34 in the Zacks Industry Rank. On average, this group has gained an average of 19.8% so far this year, meaning that ENS is performing better in terms of year-to-date returns. Eaton is also part of the same industry.
Investors interested in the Industrial Products sector may want to keep a close eye on EnerSys and Eaton as they attempt to continue their solid performance.
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