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 Acco Brands (ACCO) one of those stocks right now? 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.
Acco Brands is a member of the Industrial Products sector. This group includes 212 individual stocks and currently holds a Zacks Sector Rank of #15. 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 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. ACCO is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ACCO's full-year earnings has moved 1.53% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ACCO has moved about 41.30% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of 13.60% on a year-to-date basis. This shows that Acco Brands is outperforming its peers so far this year.
Breaking things down more, ACCO is a member of the Office Supplies industry, which includes 3 individual companies and currently sits at #15 in the Zacks Industry Rank. On average, stocks in this group have gained 38.90% this year, meaning that ACCO is performing better in terms of year-to-date returns.
Investors in the Industrial Products sector will want to keep a close eye on ACCO as it attempts to continue its solid performance.
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