For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Atkore International Group (ATKR) 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? 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.
Atkore International Group is one of 212 individual stocks in the Industrial Products sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. ATKR is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ATKR's full-year earnings has moved 20.88% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ATKR has returned 2.12% so far this year. Meanwhile, stocks in the Industrial Products group have lost about 2.54% on average. This shows that Atkore International Group is outperforming its peers so far this year.
Looking more specifically, ATKR belongs to the Wire and Cable Products industry, which includes 3 individual stocks and currently sits at #33 in the Zacks Industry Rank. This group has lost an average of 0.41% so far this year, so ATKR is performing better in this area.
ATKR will likely be looking to continue its solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to the company.