The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Lincoln Electric Holdings (LECO) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 189 different companies and currently sits 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 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 5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, LECO has moved about 28.4% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of 6.7% on a year-to-date basis. As we can see, Lincoln Electric Holdings is performing better than its sector in the calendar year.
Life360 (LIF) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 107.4%.
Over the past three months, Life360's consensus EPS estimate for the current year has increased 20.8%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Lincoln Electric Holdings belongs to the Manufacturing - Tools & Related Products industry, a group that includes 8 individual companies and currently sits at #223 in the Zacks Industry Rank. On average, stocks in this group have gained 13.2% this year, meaning that LECO is performing better in terms of year-to-date returns.
In contrast, Life360 falls under the Security and Safety Services industry. Currently, this industry has 16 stocks and is ranked #44. Since the beginning of the year, the industry has moved +19.5%.
Investors with an interest in Industrial Products stocks should continue to track Lincoln Electric Holdings and Life360. These stocks will be looking to continue their solid performance.
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Lincoln Electric Holdings, Inc. (LECO): Free Stock Analysis Report Life360, Inc. (LIF): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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