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Is ABB (ABB) Outperforming Other Industrial Products Stocks 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. ABB is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 a member of our Industrial Products group, which includes 217 different companies and currently sits at #1 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 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. ABB is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ABB's full-year earnings has moved 4.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ABB has gained about 19.6% so far this year. Meanwhile, the Industrial Products sector has returned an average of 0.2% on a year-to-date basis. As we can see, ABB is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, Parker-Hannifin (PH - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 11.1%.
In Parker-Hannifin's case, the consensus EPS estimate for the current year increased 3.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, ABB belongs to the Manufacturing - Electronics industry, which includes 17 individual stocks and currently sits at #27 in the Zacks Industry Rank. On average, stocks in this group have gained 4.4% this year, meaning that ABB 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 37 stocks and is ranked #82. Since the beginning of the year, the industry has moved +4.9%.
Investors interested in the Industrial Products sector may want to keep a close eye on ABB and Parker-Hannifin as they attempt to continue their solid performance.
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Is ABB (ABB) Outperforming Other Industrial Products Stocks 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. ABB is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 a member of our Industrial Products group, which includes 217 different companies and currently sits at #1 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 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. ABB is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ABB's full-year earnings has moved 4.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ABB has gained about 19.6% so far this year. Meanwhile, the Industrial Products sector has returned an average of 0.2% on a year-to-date basis. As we can see, ABB is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, Parker-Hannifin (PH - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 11.1%.
In Parker-Hannifin's case, the consensus EPS estimate for the current year increased 3.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, ABB belongs to the Manufacturing - Electronics industry, which includes 17 individual stocks and currently sits at #27 in the Zacks Industry Rank. On average, stocks in this group have gained 4.4% this year, meaning that ABB 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 37 stocks and is ranked #82. Since the beginning of the year, the industry has moved +4.9%.
Investors interested in the Industrial Products sector may want to keep a close eye on ABB and Parker-Hannifin as they attempt to continue their solid performance.