Is ABB (ABBNY) Stock Outpacing Its Industrial Products Peers 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. 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? 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 218 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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).Over the past 90 days, the Zacks Consensus Estimate for ABBNY's full-year earnings has moved 4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the latest available data, ABBNY has gained about 15.6% so far this year. In comparison, Industrial Products companies have returned an average of 1.7%. This shows that ABB is outperforming its peers so far this year.Another Industrial Products stock, which has outperformed the sector so far this year, is Applied Industrial Technologies (AIT). The stock has returned 13.5% year-to-date.The consensus estimate for Applied Industrial Technologies' current year EPS has increased 4.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, ABB belongs to the Manufacturing - Electronics industry, which includes 16 individual stocks and currently sits at #34 in the Zacks Industry Rank. On average, this group has gained an average of 4% so far this year, meaning that ABBNY is performing better in terms of year-to-date returns.In contrast, Applied Industrial Technologies falls under the Manufacturing - General Industrial industry. Currently, this industry has 44 stocks and is ranked #151. Since the beginning of the year, the industry has moved +1.6%.Investors with an interest in Industrial Products stocks should continue to track ABB and Applied Industrial Technologies. 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 Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks