For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has EnerSys (ENS) been one of those stocks this year? 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.
EnerSys is one of 201 individual stocks in the Industrial Products sector. Collectively, these companies sit at #10 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 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. EnerSys is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ENS' full-year earnings has moved 9.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ENS has returned about 2.5% since the start of the calendar year. At the same time, Industrial Products stocks have gained an average of 2.2%. As we can see, EnerSys is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, Eos Energy Enterprises, Inc. (EOSE), has outperformed the sector so far this year. The stock's year-to-date return is 10.9%.
In Eos Energy Enterprises, Inc.'s case, the consensus EPS estimate for the current year increased 8.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, EnerSys belongs to the Manufacturing - Electronics industry, a group that includes 16 individual companies and currently sits at #85 in the Zacks Industry Rank. On average, stocks in this group have lost 2.4% this year, meaning that ENS is performing better in terms of year-to-date returns.
Eos Energy Enterprises, Inc. however, belongs to the Industrial Services industry. Currently, this 20-stock industry is ranked #148. The industry has moved +0.2% so far this year.
Investors with an interest in Industrial Products stocks should continue to track EnerSys and Eos Energy Enterprises, Inc. These stocks will be looking to continue their solid performance.
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