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Is ABB (ABBNY) 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 ABB (ABBNY - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
ABB is one of 189 individual stocks in the Industrial Products sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. 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. ABB is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ABBNY's full-year earnings has moved 2.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ABBNY has gained about 23.1% so far this year. At the same time, Industrial Products stocks have gained an average of 10.3%. This means that ABB is outperforming the sector as a whole this year.
One other Industrial Products stock that has outperformed the sector so far this year is Applied Industrial Technologies (AIT - Free Report) . The stock is up 28.7% year-to-date.
Over the past three months, Applied Industrial Technologies' consensus EPS estimate for the current year has increased 2.1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, ABB belongs to the Manufacturing - Electronics industry, which includes 14 individual stocks and currently sits at #173 in the Zacks Industry Rank. Stocks in this group have gained about 20.3% so far this year, so ABBNY is performing better this group in terms of year-to-date returns.
In contrast, Applied Industrial Technologies falls under the Manufacturing - General Industrial industry. Currently, this industry has 43 stocks and is ranked #91. Since the beginning of the year, the industry has moved +2.4%.
Investors with an interest in Industrial Products stocks should continue to track ABB and Applied Industrial Technologies. These stocks will be looking to continue their solid performance.
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Is ABB (ABBNY) 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 ABB (ABBNY - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
ABB is one of 189 individual stocks in the Industrial Products sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. 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. ABB is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ABBNY's full-year earnings has moved 2.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ABBNY has gained about 23.1% so far this year. At the same time, Industrial Products stocks have gained an average of 10.3%. This means that ABB is outperforming the sector as a whole this year.
One other Industrial Products stock that has outperformed the sector so far this year is Applied Industrial Technologies (AIT - Free Report) . The stock is up 28.7% year-to-date.
Over the past three months, Applied Industrial Technologies' consensus EPS estimate for the current year has increased 2.1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, ABB belongs to the Manufacturing - Electronics industry, which includes 14 individual stocks and currently sits at #173 in the Zacks Industry Rank. Stocks in this group have gained about 20.3% so far this year, so ABBNY is performing better this group in terms of year-to-date returns.
In contrast, Applied Industrial Technologies falls under the Manufacturing - General Industrial industry. Currently, this industry has 43 stocks and is ranked #91. Since the beginning of the year, the industry has moved +2.4%.
Investors with an interest in Industrial Products stocks should continue to track ABB and Applied Industrial Technologies. These stocks will be looking to continue their solid performance.