The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is iRobot (IRBT - 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.
iRobot is a member of our Industrial Products group, which includes 208 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. IRBT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for IRBT's full-year earnings has moved 5.32% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, IRBT has returned 36.34% so far this year. At the same time, Industrial Products stocks have lost an average of 4.49%. As we can see, iRobot is performing better than its sector in the calendar year.
Breaking things down more, IRBT is a member of the Industrial Automation and Robotics industry, which includes 4 individual companies and currently sits at #203 in the Zacks Industry Rank. On average, this group has lost an average of 3.79% so far this year, meaning that IRBT is performing better in terms of year-to-date returns.
IRBT will likely be looking to continue its solid performance, so investors interested Industrial Products stocks should continue to pay close attention to the company.