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 Schneider Electric SE (SBGSY) 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.
Schneider Electric SE is one of 186 companies in the Industrial Products group. The Industrial Products group currently sits at #5 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 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. Schneider Electric SE is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SBGSY's full-year earnings has moved 0.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, SBGSY has returned 28.9% so far this year. Meanwhile, the Industrial Products sector has returned an average of 20.4% on a year-to-date basis. This means that Schneider Electric SE is performing better than its sector in terms of year-to-date returns.
Another Industrial Products stock, which has outperformed the sector so far this year, is EnerSys (ENS). The stock has returned 38.6% year-to-date.
The consensus estimate for EnerSys' current year EPS has increased 2.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Schneider Electric SE belongs to the Manufacturing - Electronics industry, a group that includes 14 individual companies and currently sits at #79 in the Zacks Industry Rank. On average, stocks in this group have gained 33.7% this year, meaning that SBGSY is slightly underperforming its industry in terms of year-to-date returns. EnerSys is also part of the same industry.
Investors interested in the Industrial Products sector may want to keep a close eye on Schneider Electric SE and EnerSys as they attempt to continue their solid performance.
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