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

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 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 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 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 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. Applied Industrial Technologies is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for AIT's full-year earnings has moved 1.2% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.According to our latest data, AIT has moved about 11.1% on a year-to-date basis. Meanwhile, stocks in the Industrial Products group have gained about 2.3% on average. This means that Applied Industrial Technologies 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 DNOW (DNOW). The stock has returned 33.9% year-to-date.In DNOW's case, the consensus EPS estimate for the current year increased 3.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).Looking more specifically, Applied Industrial Technologies belongs to the Manufacturing - General Industrial industry, which includes 39 individual stocks and currently sits at #151 in the Zacks Industry Rank. On average, this group has gained an average of 5.2% so far this year, meaning that AIT is performing better in terms of year-to-date returns. DNOW is also part of the same industry.Investors with an interest in Industrial Products stocks should continue to track Applied Industrial Technologies and DNOW. These stocks will be looking to continue their solid performance.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis Report DNOW Inc. (DNOW): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks