Is Assa Abloy (ASAZY) Stock Outpacing Its Industrial Products Peers This Year?

Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Assa Abloy AB (ASAZY) 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? Let's take a closer look at the stock's year-to-date performance to find out.Assa Abloy AB is a member of our Industrial Products group, which includes 200 different companies and currently sits at #10 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Assa Abloy AB is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for ASAZY's full-year earnings has moved 0.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.According to our latest data, ASAZY has moved about 7.2% on a year-to-date basis. At the same time, Industrial Products stocks have lost an average of 4.7%. As we can see, Assa Abloy AB is performing better than its sector in the calendar year.Another Industrial Products stock, which has outperformed the sector so far this year, is Insteel Industries (IIIN). The stock has returned 0.1% year-to-date.In Insteel Industries' case, the consensus EPS estimate for the current year increased 24.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).Looking more specifically, Assa Abloy AB belongs to the Security and Safety Services industry, a group that includes 18 individual stocks and currently sits at #62 in the Zacks Industry Rank. Stocks in this group have lost about 5.8% so far this year, so ASAZY is performing better this group in terms of year-to-date returns.On the other hand, Insteel Industries belongs to the Wire and Cable Products industry. This 3-stock industry is currently ranked #189. The industry has moved -13.9% year to date.Investors with an interest in Industrial Products stocks should continue to track Assa Abloy AB and Insteel Industries. These stocks will be looking to continue their solid performance.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 Assa Abloy AB (ASAZY): Free Stock Analysis Report Insteel Industries, Inc. (IIIN): 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