Has Altra Industrial Motion (AIMC) Outpaced Other Industrial Products Stocks This Year?
Investors focused on the Industrial Products space have likely heard of Altra Industrial Motion (AIMC), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Altra Industrial Motion is one of 211 individual stocks in the Industrial Products sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. 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 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. AIMC is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AIMC's full-year earnings has moved 19.58% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AIMC has moved about 9.20% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 7.96%. As we can see, Altra Industrial Motion is performing better than its sector in the calendar year.
Looking more specifically, AIMC belongs to the Manufacturing - General Industrial industry, a group that includes 41 individual stocks and currently sits at #93 in the Zacks Industry Rank. On average, this group has gained an average of 0.67% so far this year, meaning that AIMC is performing better in terms of year-to-date returns.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to AIMC as it looks to continue its solid performance.
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