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? 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.
iRobot is one of 208 individual stocks in the Industrial Products sector. Collectively, these companies sit at #12 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 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. IRBT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for IRBT's full-year earnings has moved 3.15% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that IRBT has returned about 0.35% since the start of the calendar year. Meanwhile, stocks in the Industrial Products group have lost about 7.55% on average. As we can see, iRobot is performing better than its sector in the calendar year.
Looking more specifically, IRBT belongs to the Industrial Automation and Robotics industry, a group that includes 4 individual stocks and currently sits at #24 in the Zacks Industry Rank. On average, stocks in this group have lost 5.53% 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.