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Is iRobot (IRBT) Stock Outpacing Its Industrial Products Peers This Year?
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Investors focused on the Industrial Products space have likely heard of iRobot (IRBT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of IRBT and the rest of the Industrial Products group's stocks.
iRobot is one of 211 companies in the Industrial Products group. The Industrial Products group currently sits at #5 within 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 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. 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 73.72% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, IRBT has gained about 54.51% so far this year. In comparison, Industrial Products companies have returned an average of 19.09%. This shows that iRobot is outperforming its peers so far this year.
Looking more specifically, IRBT belongs to the Industrial Automation and Robotics industry, which includes 4 individual stocks and currently sits at #9 in the Zacks Industry Rank. On average, stocks in this group have gained 24.24% this year, meaning that IRBT is performing better in terms of year-to-date returns.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to IRBT as it looks to continue its solid performance.
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Is iRobot (IRBT) Stock Outpacing Its Industrial Products Peers This Year?
Investors focused on the Industrial Products space have likely heard of iRobot (IRBT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of IRBT and the rest of the Industrial Products group's stocks.
iRobot is one of 211 companies in the Industrial Products group. The Industrial Products group currently sits at #5 within 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 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. 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 73.72% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, IRBT has gained about 54.51% so far this year. In comparison, Industrial Products companies have returned an average of 19.09%. This shows that iRobot is outperforming its peers so far this year.
Looking more specifically, IRBT belongs to the Industrial Automation and Robotics industry, which includes 4 individual stocks and currently sits at #9 in the Zacks Industry Rank. On average, stocks in this group have gained 24.24% this year, meaning that IRBT is performing better in terms of year-to-date returns.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to IRBT as it looks to continue its solid performance.