Yahoo Finance Is DNOW INC (DNOW) Stock Outpacing Its Industrial Products Peers This Year?
For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is DNOW (DNOW) one of those stocks right now? 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.
DNOW is a member of our Industrial Products group, which includes 222 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. DNOW is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DNOW's full-year earnings has moved 3.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, DNOW has returned 15.5% so far this year. Meanwhile, the Industrial Products sector has returned an average of 3.2% on a year-to-date basis. As we can see, DNOW is performing better than its sector in the calendar year.
Luxfer (LXFR) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 24.7%.
In Luxfer's case, the consensus EPS estimate for the current year increased 16.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, DNOW belongs to the Manufacturing - General Industrial industry, a group that includes 44 individual companies and currently sits at #80 in the Zacks Industry Rank. On average, stocks in this group have gained 1.9% this year, meaning that DNOW is performing better in terms of year-to-date returns. Luxfer is also part of the same industry.
Investors interested in the Industrial Products sector may want to keep a close eye on DNOW and Luxfer as they attempt to continue their solid performance.
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DNOW Inc. (DNOW) : Free Stock Analysis Report
Luxfer Holdings PLC (LXFR) : Free Stock Analysis Report