Is ABB (ABBNY) Stock Outpacing Its Industrial Products Peers This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. 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 a member of the Industrial Products sector. This group includes 224 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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).
Within the past quarter, the Zacks Consensus Estimate for ABBNY's full-year earnings has moved 3.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ABBNY has returned about 31.9% since the start of the calendar year. At the same time, Industrial Products stocks have gained an average of 12.1%. As we can see, ABB is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, The Manitowoc Company, Inc. (MTW), has outperformed the sector so far this year. The stock's year-to-date return is 102.6%.
In The Manitowoc Company, Inc.'s case, the consensus EPS estimate for the current year increased 32.6% 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 #18 in the Zacks Industry Rank. This group has gained an average of 16.4% so far this year, so ABBNY is performing better in this area.
On the other hand, The Manitowoc Company, Inc. belongs to the Manufacturing - Construction and Mining industry. This 7-stock industry is currently ranked #4. The industry has moved +9.9% year to date.
ABB and The Manitowoc Company, Inc. could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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