Is Allegion (ALLE) Outperforming Other Industrial Products Stocks This Year?

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Allegion (ALLE) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.Allegion is one of 200 companies in the Industrial Products group. The Industrial Products group currently sits at #13 within the Zacks Sector Rank. 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 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. Allegion is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for ALLE's full-year earnings has moved 2.2% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.Based on the latest available data, ALLE has gained about 0.5% so far this year. At the same time, Industrial Products stocks have lost an average of 1.1%. As we can see, Allegion is performing better than its sector in the calendar year.Another stock in the Industrial Products sector, DNOW (DNOW), has outperformed the sector so far this year. The stock's year-to-date return is 17.7%.In DNOW's case, the consensus EPS estimate for the current year increased 9.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).Looking more specifically, Allegion belongs to the Security and Safety Services industry, a group that includes 18 individual stocks and currently sits at #69 in the Zacks Industry Rank. On average, stocks in this group have lost 1.7% this year, meaning that ALLE is performing better in terms of year-to-date returns.DNOW, however, belongs to the Manufacturing - General Industrial industry. Currently, this 39-stock industry is ranked #145. The industry has moved -0.9% so far this year.Investors interested in the Industrial Products sector may want to keep a close eye on Allegion and DNOW as they attempt to continue their solid performance.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Allegion PLC (ALLE): Free Stock Analysis Report DNOW Inc. (DNOW): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks