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Is Axon Enterprise (AXON) Stock Outpacing Its Industrial Products Peers 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. Has Axon Enterprise (AXON - 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.
Axon Enterprise is one of 217 individual stocks in the Industrial Products sector. Collectively, these companies sit at #2 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 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. Axon Enterprise is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for AXON's full-year earnings has moved 63.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AXON has returned about 17.5% since the start of the calendar year. At the same time, Industrial Products stocks have gained an average of 2%. This shows that Axon Enterprise is outperforming its peers so far this year.
Another stock in the Industrial Products sector, Belden (BDC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 25.4%.
The consensus estimate for Belden's current year EPS has increased 4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Axon Enterprise belongs to the Security and Safety Services industry, which includes 22 individual stocks and currently sits at #105 in the Zacks Industry Rank. On average, stocks in this group have lost 0.2% this year, meaning that AXON is performing better in terms of year-to-date returns.
In contrast, Belden falls under the Wire and Cable Products industry. Currently, this industry has 3 stocks and is ranked #6. Since the beginning of the year, the industry has moved +14.5%.
Investors interested in the Industrial Products sector may want to keep a close eye on Axon Enterprise and Belden as they attempt to continue their solid performance.
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Is Axon Enterprise (AXON) 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 Axon Enterprise (AXON - 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.
Axon Enterprise is one of 217 individual stocks in the Industrial Products sector. Collectively, these companies sit at #2 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 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. Axon Enterprise is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for AXON's full-year earnings has moved 63.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AXON has returned about 17.5% since the start of the calendar year. At the same time, Industrial Products stocks have gained an average of 2%. This shows that Axon Enterprise is outperforming its peers so far this year.
Another stock in the Industrial Products sector, Belden (BDC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 25.4%.
The consensus estimate for Belden's current year EPS has increased 4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Axon Enterprise belongs to the Security and Safety Services industry, which includes 22 individual stocks and currently sits at #105 in the Zacks Industry Rank. On average, stocks in this group have lost 0.2% this year, meaning that AXON is performing better in terms of year-to-date returns.
In contrast, Belden falls under the Wire and Cable Products industry. Currently, this industry has 3 stocks and is ranked #6. Since the beginning of the year, the industry has moved +14.5%.
Investors interested in the Industrial Products sector may want to keep a close eye on Axon Enterprise and Belden as they attempt to continue their solid performance.