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Is Axon Enterprise (AXON) Outperforming Other Industrial Products Stocks This Year?
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Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Axon Enterprise (AXON - Free Report) 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? 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.
Axon Enterprise is a member of the Industrial Products sector. This group includes 220 individual stocks and currently holds a Zacks Sector Rank of #4. 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. Axon Enterprise is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for AXON's full-year earnings has moved 63.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, AXON has moved about 10.9% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of -10.8% on a year-to-date basis. This means that Axon Enterprise is performing better than its sector in terms of year-to-date returns.
One other Industrial Products stock that has outperformed the sector so far this year is Manitex (MNTX - Free Report) . The stock is up 1% year-to-date.
Over the past three months, Manitex's consensus EPS estimate for the current year has increased 12.5%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Axon Enterprise belongs to the Security and Safety Services industry, which includes 24 individual stocks and currently sits at #178 in the Zacks Industry Rank. Stocks in this group have lost about 18.6% so far this year, so AXON is performing better this group in terms of year-to-date returns.
Manitex, however, belongs to the Manufacturing - General Industrial industry. Currently, this 39-stock industry is ranked #88. The industry has moved -12.9% so far this year.
Axon Enterprise and Manitex could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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Is Axon Enterprise (AXON) Outperforming Other Industrial Products Stocks This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Axon Enterprise (AXON - Free Report) 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? 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.
Axon Enterprise is a member of the Industrial Products sector. This group includes 220 individual stocks and currently holds a Zacks Sector Rank of #4. 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. Axon Enterprise is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for AXON's full-year earnings has moved 63.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, AXON has moved about 10.9% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of -10.8% on a year-to-date basis. This means that Axon Enterprise is performing better than its sector in terms of year-to-date returns.
One other Industrial Products stock that has outperformed the sector so far this year is Manitex (MNTX - Free Report) . The stock is up 1% year-to-date.
Over the past three months, Manitex's consensus EPS estimate for the current year has increased 12.5%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Axon Enterprise belongs to the Security and Safety Services industry, which includes 24 individual stocks and currently sits at #178 in the Zacks Industry Rank. Stocks in this group have lost about 18.6% so far this year, so AXON is performing better this group in terms of year-to-date returns.
Manitex, however, belongs to the Manufacturing - General Industrial industry. Currently, this 39-stock industry is ranked #88. The industry has moved -12.9% so far this year.
Axon Enterprise and Manitex could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.