The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Dover Corporation (DOV) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Dover Corporation is a member of the Industrial Products sector. This group includes 218 individual stocks and currently holds a Zacks Sector Rank of #1. 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 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. Dover Corporation is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for DOV's full-year earnings has moved 2% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that DOV has returned about 8.7% since the start of the calendar year. Meanwhile, stocks in the Industrial Products group have lost about 0.4% on average. This shows that Dover Corporation is outperforming its peers so far this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Chart Industries (GTLS). The stock has returned 9.4% year-to-date.
In Chart Industries' case, the consensus EPS estimate for the current year increased 4.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Dover Corporation is a member of the Manufacturing - General Industrial industry, which includes 37 individual companies and currently sits at #64 in the Zacks Industry Rank. Stocks in this group have gained about 3.8% so far this year, so DOV is performing better this group in terms of year-to-date returns. Chart Industries is also part of the same industry.
Investors interested in the Industrial Products sector may want to keep a close eye on Dover Corporation and Chart Industries as they attempt to continue their solid performance.
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