The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. ABB (ABBNY) 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? 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 187 individual stocks in the Industrial Products sector. Collectively, these companies sit at #3 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 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 #2 (Buy).
The Zacks Consensus Estimate for ABBNY's full-year earnings has moved 1.5% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ABBNY has moved about 36% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 1.5%. This shows that ABB is outperforming its peers so far this year.
Century Aluminum (CENX) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 80.6%.
In Century Aluminum's case, the consensus EPS estimate for the current year increased 29.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, ABB belongs to the Manufacturing - Electronics industry, a group that includes 15 individual companies and currently sits at #80 in the Zacks Industry Rank. On average, stocks in this group have gained 9.7% this year, meaning that ABBNY is performing better in terms of year-to-date returns.
Century Aluminum, however, belongs to the Metal Products - Procurement and Fabrication industry. Currently, this 7-stock industry is ranked #28. The industry has moved +18% so far this year.
Investors with an interest in Industrial Products stocks should continue to track ABB and Century Aluminum. These stocks will be looking to continue their solid performance.
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ABB Ltd (ABBNY): Free Stock Analysis Report Century Aluminum Company (CENX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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