Are Industrial Products Stocks Lagging ABB (ABBNY) 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) one of those stocks right now? 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.

ABB is a member of the Industrial Products sector. This group includes 186 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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).

Within the past quarter, the Zacks Consensus Estimate for ABBNY's full-year earnings has moved 0.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, ABBNY has gained about 37.3% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 21.5% on average. This means that ABB is performing better than its sector in terms of year-to-date returns.

Another Industrial Products stock, which has outperformed the sector so far this year, is Eaton (ETN). The stock has returned 39.6% year-to-date.

Over the past three months, Eaton's consensus EPS estimate for the current year has increased 1.6%. 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 14 individual companies and currently sits at #67 in the Zacks Industry Rank. On average, stocks in this group have gained 31.2% this year, meaning that ABBNY is performing better in terms of year-to-date returns. Eaton is also part of the same industry.

Investors with an interest in Industrial Products stocks should continue to track ABB and Eaton. These stocks will be looking to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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