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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 companies in the Industrial Products group. The Industrial Products group currently sits at #11 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 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).
Within the past quarter, the Zacks Consensus Estimate for ASAZY's full-year earnings has moved 1.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ASAZY has returned 11.8% so far this year. Meanwhile, the Industrial Products sector has returned an average of 9.3% 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.
Another Industrial Products stock, which has outperformed the sector so far this year, is Mueller Water Products (MWA). The stock has returned 49.1% year-to-date.
Over the past three months, Mueller Water Products' consensus EPS estimate for the current year has increased 17.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Assa Abloy AB is a member of the Security and Safety Services industry, which includes 20 individual companies and currently sits at #53 in the Zacks Industry Rank. This group has gained an average of 20.9% so far this year, so ASAZY is slightly underperforming its industry in this area.
On the other hand, Mueller Water Products belongs to the Steel - Pipe and Tube industry. This 4-stock industry is currently ranked #220. The industry has moved -3.4% year to date.
Assa Abloy AB and Mueller Water Products could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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