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Has Ashtead Group PLC (ASHTY) Outpaced Other Industrial Products Stocks 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. Has Ashtead Group PLC (ASHTY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Ashtead Group PLC is a member of the Industrial Products sector. This group includes 224 individual stocks and currently holds a Zacks Sector Rank of #10. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. Ashtead Group PLC is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ASHTY's full-year earnings has moved 3.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, ASHTY has returned 1.8% so far this year. In comparison, Industrial Products companies have returned an average of -0.8%. This means that Ashtead Group PLC is outperforming the sector as a whole this year.

ClearSign Technologies (CLIR) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 4.4%.

In ClearSign Technologies' case, the consensus EPS estimate for the current year increased 9.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Ashtead Group PLC belongs to the Industrial Services industry, a group that includes 23 individual stocks and currently sits at #180 in the Zacks Industry Rank. Stocks in this group have lost about 4.7% so far this year, so ASHTY is performing better this group in terms of year-to-date returns. ClearSign Technologies is also part of the same industry.

Investors interested in the Industrial Products sector may want to keep a close eye on Ashtead Group PLC and ClearSign Technologies as they attempt to continue their solid performance.

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Ashtead Group PLC (ASHTY): Free Stock Analysis Report
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