The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is iRobot (IRBT) one of those stocks right now? 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.
iRobot is a member of the Industrial Products sector. This group includes 212 individual stocks and currently holds a Zacks Sector Rank of #13. 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. IRBT is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for IRBT's full-year earnings has moved 0.76% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, IRBT has returned 8.26% so far this year. At the same time, Industrial Products stocks have gained an average of 10.53%. As we can see, iRobot is performing better than its sector in the calendar year.
Breaking things down more, IRBT is a member of the Industrial Automation and Robotics industry, which includes 4 individual companies and currently sits at #18 in the Zacks Industry Rank. On average, this group has gained an average of 12.16% so far this year, meaning that IRBT is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Industrial Products sector will want to keep a close eye on IRBT as it attempts to continue its solid performance.