Yahoo Finance Is Assa Abloy (ASAZY) 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. Has Assa Abloy AB (ASAZY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Assa Abloy AB is one of 218 individual stocks in the Industrial Products sector. Collectively, these companies sit at #2 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. Assa Abloy AB is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ASAZY's full-year earnings has moved 2.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ASAZY has gained about 3% so far this year. Meanwhile, the Industrial Products sector has returned an average of -2.1% on a year-to-date basis. This means that Assa Abloy AB is performing better than its sector in terms of year-to-date returns.
One other Industrial Products stock that has outperformed the sector so far this year is Circor (CIR). The stock is up 25.4% year-to-date.
In Circor's case, the consensus EPS estimate for the current year increased 37.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Assa Abloy AB belongs to the Security and Safety Services industry, a group that includes 22 individual companies and currently sits at #61 in the Zacks Industry Rank. Stocks in this group have lost about 7.5% so far this year, so ASAZY is performing better this group in terms of year-to-date returns.
On the other hand, Circor belongs to the Metal Products - Procurement and Fabrication industry. This 11-stock industry is currently ranked #26. The industry has moved +9.9% year to date.
Investors interested in the Industrial Products sector may want to keep a close eye on Assa Abloy AB and Circor as they attempt to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Assa Abloy AB (ASAZY) : Free Stock Analysis Report
CIRCOR International, Inc. (CIR) : Free Stock Analysis Report
