Is iRobot (IRBT) 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. Has iRobot (IRBT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
iRobot is one of 211 individual stocks in the Industrial Products sector. Collectively, these companies sit at #6 in 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. IRBT is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for IRBT's full-year earnings has moved 86.47% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, IRBT has moved about 68.24% on a year-to-date basis. Meanwhile, stocks in the Industrial Products group have gained about 4.97% on average. As we can see, iRobot is performing better than its sector in the calendar year.
To break things down more, IRBT belongs to the Industrial Automation and Robotics industry, a group that includes 4 individual companies and currently sits at #32 in the Zacks Industry Rank. This group has gained an average of 19.19% so far this year, so IRBT is performing better in this area.
IRBT will likely be looking to continue its solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to the company.
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