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Is Allegion (ALLE) Stock Outpacing Its Industrial Products Peers This Year?
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For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Allegion (ALLE - Free Report) one of those stocks right now? 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.
Allegion is a member of the Industrial Products sector. This group includes 189 individual stocks and currently holds a Zacks Sector Rank of #3. 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 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. Allegion is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALLE's full-year earnings has moved 6.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ALLE has moved about 25.3% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 9.6%. As we can see, Allegion is performing better than its sector in the calendar year.
Fanuc Corp. (FANUY - 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 13.2%.
The consensus estimate for Fanuc Corp.'s current year EPS has increased 1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Allegion is a member of the Security and Safety Services industry, which includes 16 individual companies and currently sits at #192 in the Zacks Industry Rank. Stocks in this group have gained about 13.8% so far this year, so ALLE is performing better this group in terms of year-to-date returns.
On the other hand, Fanuc Corp. belongs to the Industrial Automation and Robotics industry. This 1-stock industry is currently ranked #2. The industry has moved -37.7% year to date.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Allegion and Fanuc Corp. as they could maintain their solid performance.
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Is Allegion (ALLE) 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. Is Allegion (ALLE - Free Report) one of those stocks right now? 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.
Allegion is a member of the Industrial Products sector. This group includes 189 individual stocks and currently holds a Zacks Sector Rank of #3. 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 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. Allegion is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALLE's full-year earnings has moved 6.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ALLE has moved about 25.3% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 9.6%. As we can see, Allegion is performing better than its sector in the calendar year.
Fanuc Corp. (FANUY - 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 13.2%.
The consensus estimate for Fanuc Corp.'s current year EPS has increased 1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Allegion is a member of the Security and Safety Services industry, which includes 16 individual companies and currently sits at #192 in the Zacks Industry Rank. Stocks in this group have gained about 13.8% so far this year, so ALLE is performing better this group in terms of year-to-date returns.
On the other hand, Fanuc Corp. belongs to the Industrial Automation and Robotics industry. This 1-stock industry is currently ranked #2. The industry has moved -37.7% year to date.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Allegion and Fanuc Corp. as they could maintain their solid performance.