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Has Axon Enterprise (AAXN) Outpaced Other Industrial Products Stocks This Year?


Investors focused on the Industrial Products space have likely heard of Axon Enterprise (AAXN), 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 AAXN and the rest of the Industrial Products group's stocks.

Axon Enterprise is a member of our Industrial Products group, which includes 213 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AAXN is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for AAXN's full-year earnings has moved 71.43% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that AAXN has returned about 116.08% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of -7.37% on a year-to-date basis. As we can see, Axon Enterprise is performing better than its sector in the calendar year.

Looking more specifically, AAXN belongs to the Security and Safety Services industry, a group that includes 18 individual stocks and currently sits at #43 in the Zacks Industry Rank. On average, this group has lost an average of 27.12% so far this year, meaning that AAXN is performing better in terms of year-to-date returns.

Going forward, investors interested in Industrial Products stocks should continue to pay close attention to AAXN as it looks to continue its solid performance.

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Zacks Investment Research
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