Is ABB (ABBNY) Stock Outpacing Its Industrial Products Peers This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has ABB (ABBNY) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.
ABB is one of 223 individual stocks in the Industrial Products sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the 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 23.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ABBNY has returned about 20.8% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 8.6%. This means that ABB is outperforming the sector as a whole this year.
Flowserve (FLS) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 31.5%.
For Flowserve, the consensus EPS estimate for the current year has increased 8.9% 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, which includes 17 individual stocks and currently sits at #103 in the Zacks Industry Rank. This group has gained an average of 22.7% so far this year, so ABBNY is slightly underperforming its industry in this area.
Flowserve, however, belongs to the Manufacturing - General Industrial industry. Currently, this 42-stock industry is ranked #61. The industry has moved +10.7% so far this year.
Investors with an interest in Industrial Products stocks should continue to track ABB and Flowserve. These stocks will be looking to continue their solid performance.
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ABB Ltd (ABBNY) : Free Stock Analysis Report
Flowserve Corporation (FLS) : Free Stock Analysis Report
