For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Helios Technologies (HLIO) been one of those stocks this year? 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 181 individual stocks in the Industrial Products sector. Collectively, these companies sit at #3 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. Helios Technologies is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for HLIO's full-year earnings has moved 6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that HLIO has returned about 44% since the start of the calendar year. At the same time, Industrial Products stocks have gained an average of 12.9%. This shows that Helios Technologies is outperforming its peers so far this year.
Luxfer (LXFR) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 14.3%.
The consensus estimate for Luxfer's current year EPS has increased 2.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Helios Technologies belongs to the Manufacturing - General Industrial industry, a group that includes 41 individual stocks and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have gained about 2.6% so far this year, so HLIO is performing better this group in terms of year-to-date returns. Luxfer is also part of the same industry.
Helios Technologies and Luxfer 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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Helios Technologies, Inc (HLIO): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).