Is Carlisle Companies (CSL) Stock Outpacing Its Conglomerates Peers This Year?

For those looking to find strong Conglomerates stocks, it is prudent to search for companies in the group that are outperforming their peers. Carlisle Companies (CSL) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of CSL and the rest of the Conglomerates group's stocks.

Carlisle Companies is one of 26 companies in the Conglomerates group. The Conglomerates group currently sits at #1 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. CSL is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CSL's full-year earnings has moved 1.10% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, CSL has moved about 7.51% on a year-to-date basis. Meanwhile, the Conglomerates sector has returned an average of -4.69% on a year-to-date basis. This means that Carlisle Companies is outperforming the sector as a whole this year.

Breaking things down more, CSL is a member of the Diversified Operations industry, which includes 26 individual companies and currently sits at #66 in the Zacks Industry Rank. Stocks in this group have lost about 4.69% so far this year, so CSL is performing better this group in terms of year-to-date returns.

Investors with an interest in Conglomerates stocks should continue to track CSL. The stock will be looking to continue its solid performance.

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