Has Alarm.com (ALRM) Outpaced Other Industrial Products Stocks 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 Alarm.com Holdings (ALRM) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Alarm.com Holdings is one of 216 individual stocks in the Industrial Products sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Alarm.com Holdings is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ALRM's full-year earnings has moved 31.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ALRM has returned 23.2% so far this year. In comparison, Industrial Products companies have returned an average of 14.2%. This shows that Alarm.com Holdings is outperforming its peers so far this year.
Another Industrial Products stock, which has outperformed the sector so far this year, is AZZ (AZZ). The stock has returned 34% year-to-date.
For AZZ, the consensus EPS estimate for the current year has increased 4.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Alarm.com Holdings is a member of the Security and Safety Services industry, which includes 19 individual companies and currently sits at #24 in the Zacks Industry Rank. Stocks in this group have gained about 0.6% so far this year, so ALRM is performing better this group in terms of year-to-date returns.
In contrast, AZZ falls under the Manufacturing - Electronics industry. Currently, this industry has 16 stocks and is ranked #43. Since the beginning of the year, the industry has moved +23.9%.
Investors with an interest in Industrial Products stocks should continue to track Alarm.com Holdings and AZZ. These stocks will be looking to continue their solid performance.
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Alarm.com Holdings, Inc. (ALRM) : Free Stock Analysis Report
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