Is Helios Technologies (HLIO) Stock Outpacing Its Industrial Products Peers 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. Has Helios Technologies (HLIO) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.

Helios Technologies is one of 186 companies in the Industrial Products group. The Industrial Products group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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 #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for HLIO's full-year earnings has moved 2.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, HLIO has moved about 18.6% on a year-to-date basis. Meanwhile, stocks in the Industrial Products group have gained about 3.7% on average. This shows that Helios Technologies is outperforming its peers so far this year.

Another Industrial Products stock, which has outperformed the sector so far this year, is Kennametal (KMT). The stock has returned 12.9% year-to-date.

For Kennametal, the consensus EPS estimate for the current year has increased 31.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, Helios Technologies belongs to the Manufacturing - General Industrial industry, a group that includes 41 individual companies and currently sits at #150 in the Zacks Industry Rank. This group has gained an average of 7.1% so far this year, so HLIO is performing better in this area.

Kennametal, however, belongs to the Manufacturing - Tools & Related Products industry. Currently, this 7-stock industry is ranked #28. The industry has moved -2.2% so far this year.

Helios Technologies and Kennametal 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).

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