Is ABB (ABBNY) Outperforming Other Industrial Products Stocks This Year?
For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is ABB (ABBNY) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
ABB is one of 222 individual stocks in the Industrial Products sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ABB is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ABBNY's full-year earnings has moved 17.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ABBNY has returned 22.2% so far this year. In comparison, Industrial Products companies have returned an average of 8.8%. This means that ABB is performing better than its sector in terms of year-to-date returns.
One other Industrial Products stock that has outperformed the sector so far this year is A.O. Smith (AOS). The stock is up 21.9% year-to-date.
For A.O. Smith, the consensus EPS estimate for the current year has increased 3.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, ABB belongs to the Manufacturing - Electronics industry, a group that includes 17 individual stocks and currently sits at #30 in the Zacks Industry Rank. Stocks in this group have gained about 21.9% so far this year, so ABBNY is performing better this group in terms of year-to-date returns. A.O. Smith is also part of the same industry.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to ABB and A.O. Smith as they could maintain their solid performance.
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ABB Ltd (ABBNY) : Free Stock Analysis Report
A. O. Smith Corporation (AOS) : Free Stock Analysis Report
