Yahoo Finance Is HysterYale Materials Handling (HY) Stock Outpacing Its Industrial Products Peers This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Hyster-Yale Materials (HY) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Hyster-Yale Materials 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 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. Hyster-Yale Materials is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for HY's full-year earnings has moved 5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, HY has returned 19.8% so far this year. Meanwhile, the Industrial Products sector has returned an average of 9.1% on a year-to-date basis. As we can see, Hyster-Yale Materials is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, Applied Industrial Technologies (AIT), has outperformed the sector so far this year. The stock's year-to-date return is 14%.
The consensus estimate for Applied Industrial Technologies' current year EPS has increased 2.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Hyster-Yale Materials belongs to the Manufacturing - Material Handling industry, which includes 3 individual stocks and currently sits at #1 in the Zacks Industry Rank. On average, this group has gained an average of 17.3% so far this year, meaning that HY is performing better in terms of year-to-date returns.
On the other hand, Applied Industrial Technologies belongs to the Manufacturing - General Industrial industry. This 44-stock industry is currently ranked #70. The industry has moved +7.9% year to date.
Investors interested in the Industrial Products sector may want to keep a close eye on Hyster-Yale Materials and Applied Industrial Technologies as they attempt to continue their solid performance.
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Hyster-Yale Materials Handling, Inc. (HY) : Free Stock Analysis Report
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