Markets

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.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
iRobot Corporation (IRBT): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More