Are Industrial Products Stocks Lagging ABB (ABBNY) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
ABB is one of 224 individual stocks in the Industrial Products sector. Collectively, these companies sit at #3 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 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 #1 (Strong Buy).
The Zacks Consensus Estimate for ABBNY's full-year earnings has moved 4.4% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ABBNY has returned 23.4% so far this year. Meanwhile, the Industrial Products sector has returned an average of 6.8% on a year-to-date basis. As we can see, ABB is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is The Manitowoc Company, Inc. (MTW). The stock is up 90.2% year-to-date.
Over the past three months, The Manitowoc Company, Inc.'s consensus EPS estimate for the current year has increased 31.9%. 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 #11 in the Zacks Industry Rank. On average, stocks in this group have gained 10.6% this year, meaning that ABBNY is performing better in terms of year-to-date returns.
In contrast, The Manitowoc Company, Inc. falls under the Manufacturing - Construction and Mining industry. Currently, this industry has 7 stocks and is ranked #3. Since the beginning of the year, the industry has moved +2.1%.
Investors with an interest in Industrial Products stocks should continue to track ABB and The Manitowoc Company, Inc. These stocks will be looking to continue their solid performance.
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ABB Ltd (ABBNY) : Free Stock Analysis Report
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