The Industrial Products group has plenty of great stocks, but investors should always be looking for companies 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 #5. 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 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).
The Zacks Consensus Estimate for ABBNY's full-year earnings has moved 4.8% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ABBNY has returned about 25.4% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 11.9%. This means that ABB is performing better than its sector in terms of year-to-date returns.
Ardagh Metal Packaging S.A. (AMBP) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 16.6%.
The consensus estimate for Ardagh Metal Packaging S.A.'s current year EPS has increased 9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, ABB belongs to the Manufacturing - Electronics industry, a group that includes 14 individual stocks and currently sits at #56 in the Zacks Industry Rank. On average, this group has gained an average of 17.5% so far this year, meaning that ABBNY is performing better in terms of year-to-date returns.
In contrast, Ardagh Metal Packaging S.A. falls under the Containers - Metal and Glass industry. Currently, this industry has 4 stocks and is ranked #32. Since the beginning of the year, the industry has moved +8.7%.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to ABB and Ardagh Metal Packaging S.A. as they could maintain their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).