Is Belden (BDC) Outperforming 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. Is Belden (BDC) 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.
Belden is one of 219 companies in the Industrial Products group. The Industrial Products group currently sits at #13 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 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. Belden is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BDC's full-year earnings has moved 4.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BDC has moved about 33.4% on a year-to-date basis. At the same time, Industrial Products stocks have gained an average of 2.8%. This means that Belden is outperforming the sector as a whole this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Powell Industries (POWL). The stock has returned 90.4% year-to-date.
Over the past three months, Powell Industries' consensus EPS estimate for the current year has increased 32.9%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Belden belongs to the Wire and Cable Products industry, a group that includes 3 individual stocks and currently sits at #235 in the Zacks Industry Rank. On average, this group has lost an average of 18.2% so far this year, meaning that BDC is performing better in terms of year-to-date returns.
In contrast, Powell Industries falls under the Manufacturing - Electronics industry. Currently, this industry has 16 stocks and is ranked #25. Since the beginning of the year, the industry has moved +8.3%.
Investors with an interest in Industrial Products stocks should continue to track Belden and Powell Industries. These stocks will be looking to continue their solid performance.
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Belden Inc (BDC) : Free Stock Analysis Report
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