Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. CECO Environmental (CECO) 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? 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.
CECO Environmental is a member of our Industrial Products group, which includes 187 different companies and currently sits at #5 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CECO Environmental is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CECO's full-year earnings has moved 30.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CECO has returned 33% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 19.1% on average. As we can see, CECO Environmental is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is Generac Holdings (GNRC). The stock is up 54.4% year-to-date.
In Generac Holdings' case, the consensus EPS estimate for the current year increased 5.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, CECO Environmental belongs to the Pollution Control industry, which includes 5 individual stocks and currently sits at #40 in the Zacks Industry Rank. This group has gained an average of 5.6% so far this year, so CECO is performing better in this area.
On the other hand, Generac Holdings belongs to the Manufacturing - General Industrial industry. This 41-stock industry is currently ranked #60. The industry has moved +5.9% year to date.
Investors interested in the Industrial Products sector may want to keep a close eye on CECO Environmental and Generac Holdings as they attempt to continue their solid performance.
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CECO Environmental Corp. (CECO): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).