Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Is CECO Environmental (CECO) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
CECO Environmental is one of 188 individual stocks in the Industrial Products sector. Collectively, these companies sit at #4 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 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).
Within the past quarter, the Zacks Consensus Estimate for CECO's full-year earnings has moved 29.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CECO has gained about 31.7% so far this year. In comparison, Industrial Products companies have returned an average of 17.6%. As we can see, CECO Environmental is performing better than its sector in the calendar year.
Helios Technologies (HLIO) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 49.6%.
Over the past three months, Helios Technologies' consensus EPS estimate for the current year has increased 4%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, CECO Environmental belongs to the Pollution Control industry, which includes 5 individual stocks and currently sits at #112 in the Zacks Industry Rank. On average, this group has gained an average of 4% so far this year, meaning that CECO is performing better in terms of year-to-date returns.
Helios Technologies, however, belongs to the Manufacturing - General Industrial industry. Currently, this 42-stock industry is ranked #73. The industry has moved +6.7% so far this year.
CECO Environmental and Helios Technologies could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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This article originally published on Zacks Investment Research (zacks.com).