Is ABB (ABB) Outperforming Other Industrial Products Stocks This Year?
Investors focused on the Industrial Products space have likely heard of ABB (ABB), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
ABB is one of 211 companies in the Industrial Products group. The Industrial Products group currently sits at #6 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 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. ABB is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ABB's full-year earnings has moved 7.08% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ABB has moved about 9.63% on a year-to-date basis. At the same time, Industrial Products stocks have gained an average of 7.99%. As we can see, ABB is performing better than its sector in the calendar year.
Breaking things down more, ABB is a member of the Manufacturing - Electronics industry, which includes 16 individual companies and currently sits at #59 in the Zacks Industry Rank. On average, this group has gained an average of 4.94% so far this year, meaning that ABB is performing better in terms of year-to-date returns.
Investors with an interest in Industrial Products stocks should continue to track ABB. The stock will be looking to continue its solid performance.
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