Is Allegion (ALLE) Outperforming Other Industrial Products Stocks 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) 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 219 companies in the Industrial Products group. The Industrial Products group currently sits at #13 within 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 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. Allegion is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALLE's full-year earnings has moved 2.5% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ALLE has returned about 8.2% since the start of the calendar year. At the same time, Industrial Products stocks have gained an average of 4.7%. As we can see, Allegion is performing better than its sector in the calendar year.
Another stock in the Industrial Products sector, DXP Enterprises (DXPE), has outperformed the sector so far this year. The stock's year-to-date return is 42.4%.
The consensus estimate for DXP Enterprises' current year EPS has increased 12.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Allegion belongs to the Security and Safety Services industry, a group that includes 20 individual stocks and currently sits at #95 in the Zacks Industry Rank. On average, this group has gained an average of 16.6% so far this year, meaning that ALLE is slightly underperforming its industry in terms of year-to-date returns.
In contrast, DXP Enterprises falls under the Manufacturing - General Industrial industry. Currently, this industry has 44 stocks and is ranked #170. Since the beginning of the year, the industry has moved +4.6%.
Investors interested in the Industrial Products sector may want to keep a close eye on Allegion and DXP Enterprises as they attempt to continue their solid performance.
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