Is Applied Industrial Technologies (AIT) Stock Outpacing Its Industrial Products Peers This Year?

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Applied Industrial Technologies (AIT) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Applied Industrial Technologies is a member of our Industrial Products group, which includes 228 different companies and currently sits at #9 in the Zacks Sector Rank. 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. Applied Industrial Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for AIT's full-year earnings has moved 5.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, AIT has returned 2.2% so far this year. At the same time, Industrial Products stocks have lost an average of 19.7%. As we can see, Applied Industrial Technologies is performing better than its sector in the calendar year.

Another Industrial Products stock, which has outperformed the sector so far this year, is Tenaris S.A. (TS). The stock has returned 33% year-to-date.

Over the past three months, Tenaris S.A.'s consensus EPS estimate for the current year has increased 13.1%. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Applied Industrial Technologies belongs to the Manufacturing - General Industrial industry, which includes 39 individual stocks and currently sits at #144 in the Zacks Industry Rank. This group has lost an average of 21.1% so far this year, so AIT is performing better in this area.

In contrast, Tenaris S.A. falls under the Steel - Pipe and Tube industry. Currently, this industry has 4 stocks and is ranked #10. Since the beginning of the year, the industry has moved +19.4%.

Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Applied Industrial Technologies and Tenaris S.A. as they could maintain their solid performance.

7 Best Stocks for the Next 30 Days

Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."

Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.8% per year. So be sure to give these hand-picked 7 your immediate attention. 

See them now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis Report
Tenaris S.A. (TS): Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.