Investors focused on the Industrial Products space have likely heard of Colfax (CFX), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Colfax is a member of our Industrial Products group, which includes 212 different companies and currently sits at #13 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 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. CFX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CFX's full-year earnings has moved 0.11% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CFX has gained about 15.50% so far this year. Meanwhile, the Industrial Products sector has returned an average of 10.21% on a year-to-date basis. This shows that Colfax is outperforming its peers so far this year.
Looking more specifically, CFX belongs to the Manufacturing - General Industrial industry, which includes 37 individual stocks and currently sits at #107 in the Zacks Industry Rank. On average, stocks in this group have gained 10.88% this year, meaning that CFX 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 CFX as it looks to continue its solid performance.
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