Investors focused on the Industrial Products space have likely heard of Albany International (AIN), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AIN and the rest of the Industrial Products group's stocks.
Albany International is one of 208 individual stocks in the Industrial Products sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AIN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AIN's full-year earnings has moved 11.51% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, AIN has gained about 22.78% so far this year. At the same time, Industrial Products stocks have lost an average of 7.88%. As we can see, Albany International is performing better than its sector in the calendar year.
Looking more specifically, AIN belongs to the Textile - Products industry, which includes 2 individual stocks and currently sits at #216 in the Zacks Industry Rank. This group has gained an average of 19.83% so far this year, so AIN is performing better in this area.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to AIN as it looks to continue its solid performance.
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