Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Is Proto Labs (PRLB) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Proto Labs is one of 187 individual stocks in the Industrial Products sector. Collectively, these companies sit at #6 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. Proto Labs is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PRLB's full-year earnings has moved 6.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that PRLB has returned about 57.2% since the start of the calendar year. At the same time, Industrial Products stocks have gained an average of 14.6%. This shows that Proto Labs is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is VAT Group AG - Unsponsored ADR (VACNY). The stock is up 52% year-to-date.
The consensus estimate for VAT Group AG - Unsponsored ADR's current year EPS has increased 0.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Proto Labs belongs to the Rubber - Plastics industry, a group that includes 2 individual stocks and currently sits at #98 in the Zacks Industry Rank. This group has gained an average of 60.4% so far this year, so PRLB is slightly underperforming its industry in this area.
In contrast, VAT Group AG - Unsponsored ADR falls under the Manufacturing - General Industrial industry. Currently, this industry has 42 stocks and is ranked #70. Since the beginning of the year, the industry has moved +2.1%.
Investors interested in the Industrial Products sector may want to keep a close eye on Proto Labs and VAT Group AG - Unsponsored ADR as they attempt to continue their solid performance.
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Proto Labs, Inc. (PRLB): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).