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Is ABB (ABB) 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. Has ABB (ABB - Free Report) been one of those stocks this year? 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.
ABB is one of 212 individual stocks in the Industrial Products sector. Collectively, these companies sit at #16 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. ABB is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ABB's full-year earnings has moved 7.39% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ABB has returned 25.15% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 24.52% on average. This shows that ABB is outperforming its peers so far this year.
Looking more specifically, ABB belongs to the Manufacturing - Electronics industry, a group that includes 17 individual stocks and currently sits at #190 in the Zacks Industry Rank. Stocks in this group have gained about 28.14% so far this year, so ABB is slightly underperforming its industry this group in terms of year-to-date returns.
Investors with an interest in Industrial Products stocks should continue to track ABB. The stock will be looking to continue its solid performance.