Yahoo Finance Is Bodycote (BYPLF) Stock Outpacing Its Industrial Products Peers This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Bodycote (BYPLF) 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? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.
Bodycote is one of 222 companies in the Industrial Products group. The Industrial Products group currently sits at #3 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Bodycote is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BYPLF's full-year earnings has moved 3.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that BYPLF has returned about 13.6% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 7.9%. This means that Bodycote is outperforming the sector as a whole this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Caterpillar (CAT). The stock has returned 22.9% year-to-date.
For Caterpillar, the consensus EPS estimate for the current year has increased 3.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bodycote belongs to the Manufacturing - Thermal Products industry, which includes 4 individual stocks and currently sits at #17 in the Zacks Industry Rank. On average, stocks in this group have gained 2.9% this year, meaning that BYPLF is performing better in terms of year-to-date returns.
On the other hand, Caterpillar belongs to the Manufacturing - Construction and Mining industry. This 7-stock industry is currently ranked #95. The industry has moved +21.6% year to date.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Bodycote and Caterpillar as they could maintain their solid performance.
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