Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Proto Labs (PRLB) 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? 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.
Proto Labs is one of 187 companies in the Industrial Products group. The Industrial Products group currently sits at #13 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Proto Labs is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for PRLB's full-year earnings has moved 6.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, PRLB has gained about 28% so far this year. Meanwhile, the Industrial Products sector has returned an average of 5% on a year-to-date basis. This means that Proto Labs is performing better than its sector in terms of year-to-date returns.
Another stock in the Industrial Products sector, AB SKF (SKFRY), has outperformed the sector so far this year. The stock's year-to-date return is 39.2%.
Over the past three months, AB SKF's consensus EPS estimate for the current year has increased 40%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Proto Labs belongs to the Rubber - Plastics industry, which includes 3 individual stocks and currently sits at #190 in the Zacks Industry Rank. On average, stocks in this group have lost 1.7% this year, meaning that PRLB is performing better in terms of year-to-date returns.
On the other hand, AB SKF belongs to the Manufacturing - Tools & Related Products industry. This 8-stock industry is currently ranked #45. The industry has moved +1.9% year to date.
Investors interested in the Industrial Products sector may want to keep a close eye on Proto Labs and AB SKF as they attempt to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Proto Labs, Inc. (PRLB): Free Stock Analysis Report AB SKF (SKFRY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
