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Are Industrial Products Stocks Lagging CECO Environmental (CECE) This Year?
For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is CECO Environmental 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 a member of the Industrial Products sector. This group includes 228 individual stocks and currently holds a Zacks Sector Rank of #9. 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. CECO Environmental is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CECE's full-year earnings has moved 16.7% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CECE has gained about 55.4% so far this year. In comparison, Industrial Products companies have returned an average of -19.6%. As we can see, CECO Environmental is performing better than its sector in the calendar year.
Hubbell (HUBB - Free Report) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 0%.
For Hubbell, the consensus EPS estimate for the current year has increased 5.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, CECO Environmental is a member of the Pollution Control industry, which includes 10 individual companies and currently sits at #11 in the Zacks Industry Rank. This group has lost an average of 17.1% so far this year, so CECE is performing better in this area.
In contrast, Hubbell falls under the Manufacturing - Electrical Utilities industry. Currently, this industry has 1 stocks and is ranked #5. Since the beginning of the year, the industry has moved +1.5%.
CECO Environmental and Hubbell could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.