Is Resideo Technologies (REZI) Stock Outpacing Its Industrial Products Peers This Year?
For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Resideo Technologies (REZI) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of REZI and the rest of the Industrial Products group's stocks.
Resideo Technologies is a member of our Industrial Products group, which includes 218 different companies and currently sits at #5 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 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. REZI is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for REZI's full-year earnings has moved 22.17% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that REZI has returned about 39.23% since the start of the calendar year. Meanwhile, stocks in the Industrial Products group have gained about 34.10% on average. This means that Resideo Technologies is performing better than its sector in terms of year-to-date returns.
Looking more specifically, REZI belongs to the Security and Safety Services industry, which includes 23 individual stocks and currently sits at #95 in the Zacks Industry Rank. Stocks in this group have gained about 15.08% so far this year, so REZI is performing better this group in terms of year-to-date returns.
REZI 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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Resideo Technologies, Inc. (REZI) : Free Stock Analysis Report
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