Has iRobot (IRBT) Outpaced Other Industrial Products Stocks This Year?
Investors focused on the Industrial Products space have likely heard of iRobot (IRBT), but is the stock performing well in comparison to the rest of its sector peers? 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.
iRobot is one of 212 individual stocks in the Industrial Products sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. IRBT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for IRBT's full-year earnings has moved 7.58% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, IRBT has gained about 44.82% so far this year. Meanwhile, the Industrial Products sector has returned an average of 13.63% on a year-to-date basis. This shows that iRobot is outperforming its peers so far this year.
Breaking things down more, IRBT is a member of the Industrial Automation and Robotics industry, which includes 4 individual companies and currently sits at #13 in the Zacks Industry Rank. Stocks in this group have gained about 18.07% so far this year, so IRBT is performing better this group in terms of year-to-date returns.
IRBT will likely be looking to continue its solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to the company.
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