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Are Industrial Products Stocks Lagging Applied Industrial Technologies (AIT) This Year?

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Applied Industrial Technologies (AIT) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.

Applied Industrial Technologies is a member of the Industrial Products sector. This group includes 228 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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. Applied Industrial Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for AIT's full-year earnings has moved 5.8% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, AIT has moved about 0.8% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of -22.2% on a year-to-date basis. As we can see, Applied Industrial Technologies is performing better than its sector in the calendar year.

Another stock in the Industrial Products sector, IHI CORP (IHICY), has outperformed the sector so far this year. The stock's year-to-date return is 22.2%.

For IHI CORP, 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).

To break things down more, Applied Industrial Technologies belongs to the Manufacturing - General Industrial industry, a group that includes 39 individual companies and currently sits at #139 in the Zacks Industry Rank. On average, stocks in this group have lost 22.4% this year, meaning that AIT is performing better in terms of year-to-date returns. IHI CORP is also part of the same industry.

Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Applied Industrial Technologies and IHI CORP as they could maintain their solid performance.


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