Time New York: Fri 19 Oct 22:35 pm  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

Is ScanSource (SCSC) Stock Outpacing Its Industrial Products Peers This Year?

Zacks

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 ScanSource (SCSC) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.

ScanSource is a member of the Industrial Products sector. This group includes 213 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 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. SCSC is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for SCSC's full-year earnings has moved 2.05% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.


According to our latest data, SCSC has moved about 1.54% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of -8.07% on a year-to-date basis. This shows that ScanSource is outperforming its peers so far this year.

Looking more specifically, SCSC belongs to the Industrial Services industry, which includes 15 individual stocks and currently sits at #10 in the Zacks Industry Rank. On average, stocks in this group have gained 11.20% this year, meaning that SCSC is slightly underperforming its industry in terms of year-to-date returns.

Going forward, investors interested in Industrial Products stocks should continue to pay close attention to SCSC as it looks to continue its solid performance.


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

To read this article on Zacks.com click here.

Zacks Investment Research
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.