Are Industrial Products Stocks Lagging Helios Technologies (HLIO) This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Helios TechnologiesHLIO-- (HLIO) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Helios Technologies is one of 179 individual stocks in the Industrial Products sector. Collectively, these companies sit at #8 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. Helios Technologies is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for HLIO's full-year earnings has moved 1.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that HLIOHLIO-- has returned about 26.4% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 12.9%. This shows that Helios Technologies is outperforming its peers so far this year.
Proto Labs (PRLB) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 20.8%.
Over the past three months, Proto Labs' consensus EPS estimate for the current year has increased 23.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Helios Technologies is a member of the Manufacturing - General Industrial industry, which includes 43 individual companies and currently sits at #77 in the Zacks Industry Rank. Stocks in this group have gained about 11.9% so far this year, so HLIO is performing better this group in terms of year-to-date returns.
On the other hand, Proto Labs belongs to the Rubber - Plastics industry. This 3-stock industry is currently ranked #14. The industry has moved +21.2% year to date.
Investors with an interest in Industrial Products stocks should continue to track Helios Technologies and Proto Labs. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).
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