Investors focused on the Industrial Products space have likely heard of iRobot (IRBT), but is the stock performing well in comparison to the rest of its sector peers? 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 our Industrial Products group, which includes 213 different companies and currently sits at #9 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 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 #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for IRBT's full-year earnings has moved 205.88% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that IRBT has returned about 50.23% since the start of the calendar year. At the same time, Industrial Products stocks have lost an average of 2.63%. This means that iRobot is performing better than its sector in terms of year-to-date returns.
Breaking things down more, IRBT is a member of the Industrial Automation and Robotics industry, which includes 4 individual companies and currently sits at #212 in the Zacks Industry Rank. Stocks in this group have gained about 5.74% so far this year, so IRBT is performing better this group 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.
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iRobot Corporation (IRBT): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
