Are Industrial Products Stocks Lagging ABB (ABBNY) This Year?

Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. ABB (ABBNY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.ABB is a member of the Industrial Products sector. This group includes 189 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.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).Over the past 90 days, the Zacks Consensus Estimate for ABBNY's full-year earnings has moved 2.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Based on the latest available data, ABBNY has gained about 7.1% so far this year. At the same time, Industrial Products stocks have lost an average of 0.4%. As we can see, ABB is performing better than its sector in the calendar year.One other Industrial Products stock that has outperformed the sector so far this year is Kone Oyj Unsponsored ADR (KNYJY). The stock is up 30.4% year-to-date.For Kone Oyj Unsponsored ADR, the consensus EPS estimate for the current year has increased 7.6% 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 17 individual stocks and currently sits at #41 in the Zacks Industry Rank. Stocks in this group have lost about 6.9% so far this year, so ABBNY is performing better this group in terms of year-to-date returns. Kone Oyj Unsponsored ADR is also part of the same industry.Investors with an interest in Industrial Products stocks should continue to track ABB and Kone Oyj Unsponsored ADR. These stocks will be looking to continue their solid performance.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 ABB Ltd (ABBNY): Free Stock Analysis Report Kone Oyj Unsponsored ADR (KNYJY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks