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Is Rockwell Automation (ROK) Outperforming Other Industrial Products Stocks This Year?

Zacks Equity Research
·2-min read

Investors focused on the Industrial Products space have likely heard of Rockwell Automation (ROK), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of ROK and the rest of the Industrial Products group's stocks.

Rockwell Automation is one of 211 individual stocks in the Industrial Products sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. 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. ROK is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ROK's full-year earnings has moved 9.73% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the latest available data, ROK has gained about 26.28% so far this year. Meanwhile, the Industrial Products sector has returned an average of 18.09% on a year-to-date basis. This means that Rockwell Automation is outperforming the sector as a whole this year.

To break things down more, ROK belongs to the Industrial Automation and Robotics industry, a group that includes 4 individual companies and currently sits at #8 in the Zacks Industry Rank. On average, stocks in this group have gained 27.90% this year, meaning that ROK is slightly underperforming its industry in terms of year-to-date returns.

Investors with an interest in Industrial Products stocks should continue to track ROK. The stock will be looking to continue its solid performance.


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