Is Allegion (ALLE) Stock Outpacing Its Industrial Products Peers This Year?

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Allegion (ALLE) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 a member of the Industrial Products sector. This group includes 192 individual stocks and currently holds a Zacks Sector Rank of #10. 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 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. Allegion is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for ALLE's full-year earnings has moved 1.7% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.According to our latest data, ALLE has moved about 1.1% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of -3.9% on a year-to-date basis. This shows that Allegion is outperforming its peers so far this year.Another Industrial Products stock, which has outperformed the sector so far this year, is Komatsu Ltd. (KMTUY). The stock has returned 7.7% year-to-date.For Komatsu Ltd. the consensus EPS estimate for the current year has increased 17.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).Breaking things down more, Allegion is a member of the Security and Safety Services industry, which includes 17 individual companies and currently sits at #59 in the Zacks Industry Rank. On average, stocks in this group have lost 1.4% this year, meaning that ALLE is performing better in terms of year-to-date returns.In contrast, Komatsu Ltd. falls under the Manufacturing - Construction and Mining industry. Currently, this industry has 7 stocks and is ranked #87. Since the beginning of the year, the industry has moved -6.8%.Allegion and Komatsu Ltd. could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 Komatsu Ltd. (KMTUY): 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