Are Industrial Products Stocks Lagging AGCO (AGCO) This Year?

Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Has Agco (AGCO) been one of those stocks this year? 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.Agco is a member of our Industrial Products group, which includes 189 different companies and currently sits at #3 in 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Agco is currently sporting a Zacks Rank of #1 (Strong Buy).The Zacks Consensus Estimate for AGCO's full-year earnings has moved 15.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Based on the most recent data, AGCO has returned 18.8% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 6.8% on average. This means that Agco 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 Fastenal (FAST). The stock has returned 33.5% year-to-date.Over the past three months, Fastenal's consensus EPS estimate for the current year has increased 2.1%. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, Agco is a member of the Manufacturing - Farm Equipment industry, which includes 7 individual companies and currently sits at #212 in the Zacks Industry Rank. On average, this group has gained an average of 10.6% so far this year, meaning that AGCO is performing better in terms of year-to-date returns. On the other hand, Fastenal belongs to the Industrial Services industry. This 18-stock industry is currently ranked #30. The industry has moved +7.3% year to date.Agco and Fastenal could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for Free >>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 AGCO Corporation (AGCO): Free Stock Analysis Report Fastenal Company (FAST): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks