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The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Gates Industrial (GTES) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Gates Industrial is a member of the Industrial Products sector. This group includes 213 individual stocks and currently holds a Zacks Sector Rank of #14. 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. Gates Industrial is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GTES' full-year earnings has moved 1.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, GTES has gained about 63% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 14.8% on average. This shows that Gates Industrial is outperforming its peers so far this year.
Another stock in the Industrial Products sector, Kornit Digital (KRNT), has outperformed the sector so far this year. The stock's year-to-date return is 71.8%.
In Kornit Digital's case, the consensus EPS estimate for the current year increased 20% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Gates Industrial belongs to the Manufacturing - General Industrial industry, a group that includes 42 individual companies and currently sits at #154 in the Zacks Industry Rank. This group has gained an average of 15.2% so far this year, so GTES is performing better in this area.
On the other hand, Kornit Digital belongs to the Commercial Printing industry. This 4-stock industry is currently ranked #2. The industry has moved +42% year to date.
Investors with an interest in Industrial Products stocks should continue to track Gates Industrial and Kornit Digital. These stocks will be looking to continue their solid performance.
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Gates Industrial Corporation PLC (GTES) : Free Stock Analysis Report