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The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has H&E Equipment (HEES) 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.
H&E Equipment is one of 219 individual stocks in the Industrial Products sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. 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 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. H&E Equipment is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for HEES’ full-year earnings has moved 17.6% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the latest available data, HEES has gained about 2.1% so far this year. In comparison, Industrial Products companies have returned an average of -11.7%. As we can see, H&E Equipment is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, MRC Global (MRC), has outperformed the sector so far this year. The stock’s year-to-date return is 70.1%.
The consensus estimate for MRC Global’s current year EPS has increased 14.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, H&E Equipment belongs to the Manufacturing – Construction and Mining industry, a group that includes 7 individual stocks and currently sits at #6 in the Zacks Industry Rank. Stocks in this group have gained about 16% so far this year, so HEES is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, MRC Global falls under the Steel – Pipe and Tube industry. Currently, this industry has 4 stocks and is ranked #18. Since the beginning of the year, the industry has moved +48.4%.
H&E Equipment and MRC Global could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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H&E Equipment Services, Inc. (HEES) : Free Stock Analysis Report
MRC Global Inc. (MRC) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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