Are Industrial Products Stocks Lagging Axon Enterprise (AXON) This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Has Axon Enterprise (AXON) 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.
Axon Enterprise is a member of the Industrial Products sector. This group includes 216 individual stocks and currently holds a Zacks Sector Rank of #13. 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Axon Enterprise is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AXON's full-year earnings has moved 16.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that AXON has returned about 49.5% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 10.9%. As we can see, Axon Enterprise is performing better than its sector in the calendar year.
Xerox Holdings Corporation (XRX) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 14.5%.
The consensus estimate for Xerox Holdings Corporation's current year EPS has increased 12% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Axon Enterprise belongs to the Security and Safety Services industry, which includes 19 individual stocks and currently sits at #46 in the Zacks Industry Rank. This group has lost an average of 1.3% so far this year, so AXON is performing better in this area.
On the other hand, Xerox Holdings Corporation belongs to the Office Supplies industry. This 3-stock industry is currently ranked #92. The industry has moved +18.3% year to date.
Investors with an interest in Industrial Products stocks should continue to track Axon Enterprise and Xerox Holdings Corporation. These stocks will be looking to continue their solid performance.
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