Is Carlisle Companies (CSL) Stock Outpacing Its Conglomerates Peers This Year?
Investors interested in Conglomerates stocks should always be looking to find the best-performing companies in the group. Has Carlisle (CSL) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Conglomerates peers, we might be able to answer that question.
Carlisle is a member of the Conglomerates sector. This group includes 27 individual stocks and currently holds a Zacks Sector Rank of #1. 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Carlisle is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CSL's full-year earnings has moved 8.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CSL has returned about 24% since the start of the calendar year. At the same time, Conglomerates stocks have gained an average of 10%. This means that Carlisle is performing better than its sector in terms of year-to-date returns.
One other Conglomerates stock that has outperformed the sector so far this year is Mitsubishi Corp. (MSBHF). The stock is up 47.9% year-to-date.
In Mitsubishi Corp.'s case, the consensus EPS estimate for the current year increased 4.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Carlisle belongs to the Diversified Operations industry, which includes 27 individual stocks and currently sits at #22 in the Zacks Industry Rank. This group has gained an average of 10% so far this year, so CSL is performing better in this area. Mitsubishi Corp. is also part of the same industry.
Going forward, investors interested in Conglomerates stocks should continue to pay close attention to Carlisle and Mitsubishi Corp. as they could maintain their solid performance.
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Carlisle Companies Incorporated (CSL) : Free Stock Analysis Report
Mitsubishi Corp. (MSBHF) : Free Stock Analysis Report
