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Are Industrial Products Stocks Lagging Axon Enterprise (AXON) 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 one of 217 companies in the Industrial Products group. The Industrial Products group currently sits at #6 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 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).
Over the past three months, the Zacks Consensus Estimate for AXON's full-year earnings has moved 23.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AXON has returned 29.8% so far this year. Meanwhile, the Industrial Products sector has returned an average of 5.7% on a year-to-date basis. This means that Axon Enterprise is performing better than its sector in terms of year-to-date returns.
Cintas (CTAS - Free Report) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 12.2%.
Over the past three months, Cintas' consensus EPS estimate for the current year has increased 2.7%. 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 #54 in the Zacks Industry Rank. On average, this group has lost an average of 8% so far this year, meaning that AXON is performing better in terms of year-to-date returns.
On the other hand, Cintas belongs to the Uniform and Related industry. This 2-stock industry is currently ranked #27. The industry has moved +11% year to date.
Investors interested in the Industrial Products sector may want to keep a close eye on Axon Enterprise and Cintas as they attempt to continue their solid performance.
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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. 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 one of 217 companies in the Industrial Products group. The Industrial Products group currently sits at #6 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 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).
Over the past three months, the Zacks Consensus Estimate for AXON's full-year earnings has moved 23.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AXON has returned 29.8% so far this year. Meanwhile, the Industrial Products sector has returned an average of 5.7% on a year-to-date basis. This means that Axon Enterprise is performing better than its sector in terms of year-to-date returns.
Cintas (CTAS - Free Report) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 12.2%.
Over the past three months, Cintas' consensus EPS estimate for the current year has increased 2.7%. 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 #54 in the Zacks Industry Rank. On average, this group has lost an average of 8% so far this year, meaning that AXON is performing better in terms of year-to-date returns.
On the other hand, Cintas belongs to the Uniform and Related industry. This 2-stock industry is currently ranked #27. The industry has moved +11% year to date.
Investors interested in the Industrial Products sector may want to keep a close eye on Axon Enterprise and Cintas as they attempt to continue their solid performance.