Is ABB (ABBNY) 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. Has ABB (ABBNY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.ABB is one of 181 individual stocks in the Industrial Products sector. Collectively, these companies sit at #7 in 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 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. ABB is currently sporting a Zacks Rank of #1 (Strong Buy).Over the past three months, the Zacks Consensus Estimate for ABBNY's full-year earnings has moved 13.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.According to our latest data, ABBNY has moved about 46.6% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 21.6%. This means that ABB is performing better than its sector in terms of year-to-date returns.Another stock in the Industrial Products sector, CECO Environmental (CECO), has outperformed the sector so far this year. The stock's year-to-date return is 64.4%.For CECO Environmental, the consensus EPS estimate for the current year has increased 29.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).To break things down more, ABB belongs to the Manufacturing - Electronics industry, a group that includes 14 individual companies and currently sits at #85 in the Zacks Industry Rank. On average, stocks in this group have gained 26.9% this year, meaning that ABBNY is performing better in terms of year-to-date returns. In contrast, CECO Environmental falls under the Pollution Control industry. Currently, this industry has 5 stocks and is ranked #214. Since the beginning of the year, the industry has moved +6.1%.Investors interested in the Industrial Products sector may want to keep a close eye on ABB and CECO Environmental as they attempt to continue their solid performance.Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks