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Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Ashtead Group PLC (ASHTY) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Ashtead Group PLC is a member of the Industrial Products sector. This group includes 201 individual stocks and currently holds a Zacks Sector Rank of #10. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Ashtead Group PLC is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ASHTY's full-year earnings has moved 0.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ASHTY has moved about 2.6% on a year-to-date basis. At the same time, Industrial Products stocks have gained an average of 2.1%. This means that Ashtead Group PLC is performing better than its sector in terms of year-to-date returns.
Lindsay (LNN) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 9.6%.
Over the past three months, Lindsay's consensus EPS estimate for the current year has increased 2.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ashtead Group PLC belongs to the Industrial Services industry, which includes 20 individual stocks and currently sits at #86 in the Zacks Industry Rank. This group has lost an average of 0.4% so far this year, so ASHTY is performing better in this area.
In contrast, Lindsay falls under the Manufacturing - Farm Equipment industry. Currently, this industry has 7 stocks and is ranked #86. Since the beginning of the year, the industry has moved +10.2%.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Ashtead Group PLC and Lindsay as they could maintain their solid performance.
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