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Are Industrial Products Stocks Lagging Axon Enterprise (AXON) This Year?
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The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Axon Enterprise (AXON - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Axon Enterprise is a member of the Industrial Products sector. This group includes 221 individual stocks and currently holds a Zacks Sector Rank of #1. 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Axon Enterprise is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AXON's full-year earnings has moved 63.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AXON has moved about 1.4% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of -11.8%. This means that Axon Enterprise is outperforming the sector as a whole this year.
Parker-Hannifin (PH - 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 0.3%.
The consensus estimate for Parker-Hannifin's current year EPS has increased 2.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Axon Enterprise is a member of the Security and Safety Services industry, which includes 24 individual companies and currently sits at #89 in the Zacks Industry Rank. On average, this group has lost an average of 19.4% so far this year, meaning that AXON is performing better in terms of year-to-date returns.
In contrast, Parker-Hannifin falls under the Manufacturing - General Industrial industry. Currently, this industry has 39 stocks and is ranked #64. Since the beginning of the year, the industry has moved -14%.
Investors interested in the Industrial Products sector may want to keep a close eye on Axon Enterprise and Parker-Hannifin as they attempt to continue their solid performance.
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Are Industrial Products Stocks Lagging Axon Enterprise (AXON) This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Axon Enterprise (AXON - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Axon Enterprise is a member of the Industrial Products sector. This group includes 221 individual stocks and currently holds a Zacks Sector Rank of #1. 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Axon Enterprise is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AXON's full-year earnings has moved 63.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AXON has moved about 1.4% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of -11.8%. This means that Axon Enterprise is outperforming the sector as a whole this year.
Parker-Hannifin (PH - 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 0.3%.
The consensus estimate for Parker-Hannifin's current year EPS has increased 2.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Axon Enterprise is a member of the Security and Safety Services industry, which includes 24 individual companies and currently sits at #89 in the Zacks Industry Rank. On average, this group has lost an average of 19.4% so far this year, meaning that AXON is performing better in terms of year-to-date returns.
In contrast, Parker-Hannifin falls under the Manufacturing - General Industrial industry. Currently, this industry has 39 stocks and is ranked #64. Since the beginning of the year, the industry has moved -14%.
Investors interested in the Industrial Products sector may want to keep a close eye on Axon Enterprise and Parker-Hannifin as they attempt to continue their solid performance.