8 Best Industrial Stocks To Buy According to Analysts

3. Pitney Bowes Inc. (NYSE:PBI)

Number of Hedge Funds: 22

Analyst Upside Potential: 79.31%

Pitney Bowes Inc. (NYSE:PBI) is the 3rd best industrial stock to buy according to analysts. The company specializes in shipping and mailing services. The company allows its customers to send and receive packages effectively and also provides financial services to allow businesses to purchase mailing equipment.

The company reported strong financial results in its second-quarter results earnings call for fiscal 2024. It was able to grow its total revenue by 2% year-over-year to reach $793 million. Moreover, the company also generated an adjusted EBITD of $46 million indicating a 43% increase year-over-year.

Management of Pitney Bowes Inc. (NYSE:PBI) has been focused on its key segments including SendTech and Presort, which have the potential to grow in the future. As a strategic move, the company has completed its review of the Global e-commerce business and has decided to sell the majority interest in the business to Hilco Global. This move will eliminate ongoing losses associated with GEC.

Management remains confident that the strategic changes will lead to improved cash flow and earnings growth moving forward. They already generated $83 million in free cash flow in the second quarter of fiscal 2024, which is a substantial improvement of $94 million year-over-year.