Yahoo Finance Are Conglomerates Stocks Lagging Griffon (GFF) This Year?
The Conglomerates group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Griffon (GFF) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Conglomerates peers, we might be able to answer that question.
Griffon is one of 27 individual stocks in the Conglomerates sector. Collectively, these companies sit at #2 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. Griffon is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for GFF's full-year earnings has moved 3.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, GFF has gained about 14.6% so far this year. At the same time, Conglomerates stocks have gained an average of 9.6%. This means that Griffon is outperforming the sector as a whole this year.
Another Conglomerates stock, which has outperformed the sector so far this year, is Hitachi Ltd. (HTHIY). The stock has returned 17.9% year-to-date.
For Hitachi Ltd. the consensus EPS estimate for the current year has increased 5.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Griffon is a member of the Diversified Operations industry, which includes 27 individual companies and currently sits at #44 in the Zacks Industry Rank. On average, stocks in this group have gained 9.6% this year, meaning that GFF is performing better in terms of year-to-date returns. Hitachi Ltd. is also part of the same industry.
Investors with an interest in Conglomerates stocks should continue to track Griffon and Hitachi Ltd. 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
Griffon Corporation (GFF) : Free Stock Analysis Report
Hitachi Ltd. (HTHIY) : Free Stock Analysis Report
