Investors focused on the Industrial Products space have likely heard of Albany International (AIN), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock’s year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.
Albany International is a member of our Industrial Products group, which includes 208 different companies and currently sits at #6 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 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. AIN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AIN’s full-year earnings has moved 11.51% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Our latest available data shows that AIN has returned about 25.55% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of -5.05% on a year-to-date basis. As we can see, Albany International is performing better than its sector in the calendar year.
To break things down more, AIN belongs to the Textile – Products industry, a group that includes 2 individual companies and currently sits at #251 in the Zacks Industry Rank. This group has gained an average of 21.98% so far this year, so AIN is performing better in this area.
AIN will likely be looking to continue its solid performance, so investors interested Industrial Products stocks should continue to pay close attention to the company.
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