Back to top

Image: Bigstock

Has Lincoln Electric (LECO) Outpaced Other Industrial Products Stocks This Year?

Read MoreHide Full Article

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 Lincoln Electric Holdings (LECO - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Lincoln Electric Holdings is a member of our Industrial Products group, which includes 229 different companies and currently sits at #5 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 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. Lincoln Electric Holdings is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for LECO's full-year earnings has moved 10.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, LECO has gained about 0.6% so far this year. At the same time, Industrial Products stocks have lost an average of 12.8%. This means that Lincoln Electric Holdings is outperforming the sector as a whole this year.

One other Industrial Products stock that has outperformed the sector so far this year is Myers (MYE - Free Report) . The stock is up 26.6% year-to-date.

The consensus estimate for Myers' current year EPS has increased 28.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, Lincoln Electric Holdings is a member of the Manufacturing - Tools & Related Products industry, which includes 6 individual companies and currently sits at #212 in the Zacks Industry Rank. This group has lost an average of 28.2% so far this year, so LECO is performing better in this area.

Myers, however, belongs to the Rubber - Plastics industry. Currently, this 4-stock industry is ranked #32. The industry has moved -0.4% so far this year.

Investors interested in the Industrial Products sector may want to keep a close eye on Lincoln Electric Holdings and Myers as they attempt to continue their solid performance.

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

Lincoln Electric Holdings, Inc. (LECO) - free report >>

Myers Industries, Inc. (MYE) - free report >>

Published in