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Is ABB (ABBNY) 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. Is ABB (ABBNY - 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.
ABB is one of 222 individual stocks in the Industrial Products sector. Collectively, these companies sit at #4 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics 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 ABBNY's full-year earnings has moved 3.4% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ABBNY has moved about 28.4% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of 4.2% on a year-to-date basis. This means that ABB is outperforming the sector as a whole this year.
One other Industrial Products stock that has outperformed the sector so far this year is Esab (ESAB - Free Report) . The stock is up 8.4% year-to-date.
The consensus estimate for Esab's current year EPS has increased 2.3% 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 16 individual stocks and currently sits at #13 in the Zacks Industry Rank. This group has gained an average of 16.6% so far this year, so ABBNY is performing better in this area.
Esab, however, belongs to the Metal Products - Procurement and Fabrication industry. Currently, this 12-stock industry is ranked #28. The industry has moved +6.8% so far this year.
ABB and Esab could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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Is ABB (ABBNY) 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. Is ABB (ABBNY - 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.
ABB is one of 222 individual stocks in the Industrial Products sector. Collectively, these companies sit at #4 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics 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 ABBNY's full-year earnings has moved 3.4% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ABBNY has moved about 28.4% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of 4.2% on a year-to-date basis. This means that ABB is outperforming the sector as a whole this year.
One other Industrial Products stock that has outperformed the sector so far this year is Esab (ESAB - Free Report) . The stock is up 8.4% year-to-date.
The consensus estimate for Esab's current year EPS has increased 2.3% 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 16 individual stocks and currently sits at #13 in the Zacks Industry Rank. This group has gained an average of 16.6% so far this year, so ABBNY is performing better in this area.
Esab, however, belongs to the Metal Products - Procurement and Fabrication industry. Currently, this 12-stock industry is ranked #28. The industry has moved +6.8% so far this year.
ABB and Esab could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.