Is Columbus McKinnon (CMCO) Outperforming Other Industrial Products Stocks This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Has Columbus McKinnon (CMCO) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Columbus McKinnon is one of 219 individual stocks in the Industrial Products sector. Collectively, these companies sit at #1 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Columbus McKinnon is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CMCO's full-year earnings has moved 1.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CMCO has gained about 9.5% so far this year. In comparison, Industrial Products companies have returned an average of -1.5%. This shows that Columbus McKinnon is outperforming its peers so far this year.
Constellium (CSTM) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 17.2%.
The consensus estimate for Constellium's current year EPS has increased 3.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Columbus McKinnon belongs to the Manufacturing - Material Handling industry, a group that includes 3 individual companies and currently sits at #39 in the Zacks Industry Rank. On average, this group has gained an average of 14.5% so far this year, meaning that CMCO is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Constellium falls under the Metal Products - Distribution industry. Currently, this industry has 5 stocks and is ranked #35. Since the beginning of the year, the industry has moved +9.5%.
Investors with an interest in Industrial Products stocks should continue to track Columbus McKinnon and Constellium. These stocks will be looking to continue their solid performance.
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
Columbus McKinnon Corporation (CMCO) : Free Stock Analysis Report
Constellium SE (CSTM) : Free Stock Analysis Report
To read this article on Zacks.com click here.