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Are Industrial Products Stocks Lagging Allegion (ALLE) 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. Is Allegion (ALLE - 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.
Allegion is one of 218 individual stocks in the Industrial Products sector. Collectively, these companies sit at #9 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. Allegion is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ALLE's full-year earnings has moved 2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ALLE has returned 8.7% so far this year. In comparison, Industrial Products companies have returned an average of 8%. This shows that Allegion is outperforming its peers so far this year.
Another stock in the Industrial Products sector, Amcor (AMCR - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 8.1%.
For Amcor, the consensus EPS estimate for the current year has increased 0.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Allegion is a member of the Security and Safety Services industry, which includes 20 individual companies and currently sits at #105 in the Zacks Industry Rank. On average, this group has gained an average of 14.6% so far this year, meaning that ALLE is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Amcor belongs to the Containers - Paper and Packaging industry. This 12-stock industry is currently ranked #81. The industry has moved +11.3% year to date.
Allegion and Amcor 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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Are Industrial Products Stocks Lagging Allegion (ALLE) This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Allegion (ALLE - 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.
Allegion is one of 218 individual stocks in the Industrial Products sector. Collectively, these companies sit at #9 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. Allegion is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ALLE's full-year earnings has moved 2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ALLE has returned 8.7% so far this year. In comparison, Industrial Products companies have returned an average of 8%. This shows that Allegion is outperforming its peers so far this year.
Another stock in the Industrial Products sector, Amcor (AMCR - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 8.1%.
For Amcor, the consensus EPS estimate for the current year has increased 0.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Allegion is a member of the Security and Safety Services industry, which includes 20 individual companies and currently sits at #105 in the Zacks Industry Rank. On average, this group has gained an average of 14.6% so far this year, meaning that ALLE is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Amcor belongs to the Containers - Paper and Packaging industry. This 12-stock industry is currently ranked #81. The industry has moved +11.3% year to date.
Allegion and Amcor could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.