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 ABB (ABBNY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
ABB is one of 179 individual stocks in the Industrial Products sector. Collectively, these companies sit at #7 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ABB is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ABBNY's full-year earnings has moved 0% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ABBNY has moved about 20.4% on a year-to-date basis. At the same time, Industrial Products stocks have gained an average of 18.9%. This shows that ABB is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is Gorman-Rupp (GRC). The stock is up 38.9% year-to-date.
The consensus estimate for Gorman-Rupp's current year EPS has 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 13 individual stocks and currently sits at #78 in the Zacks Industry Rank. Stocks in this group have gained about 20.7% so far this year, so ABBNY is slightly underperforming its industry this group in terms of year-to-date returns.
Gorman-Rupp, however, belongs to the Manufacturing - General Industrial industry. Currently, this 43-stock industry is ranked #68. The industry has moved +16.2% so far this year.
Investors with an interest in Industrial Products stocks should continue to track ABB and Gorman-Rupp. These stocks will be looking to continue their solid performance.
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ABB Ltd (ABBNY): Free Stock Analysis Report Gorman-Rupp Company (The) (GRC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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