Advertisement
Australia markets open in 2 hours 45 minutes
  • ALL ORDS

    8,206.10
    +72.70 (+0.89%)
     
  • AUD/USD

    0.6776
    +0.0014 (+0.20%)
     
  • ASX 200

    7,959.30
    +69.70 (+0.88%)
     
  • OIL

    82.18
    -0.03 (-0.04%)
     
  • GOLD

    2,416.00
    -4.70 (-0.19%)
     
  • Bitcoin AUD

    89,017.38
    +2,501.36 (+2.89%)
     
  • CMC Crypto 200

    1,253.14
    +54.57 (+4.55%)
     

Are Industrial Products Stocks Lagging Helios Technologies (HLIO) 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. Helios Technologies (HLIO) 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? 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 a member of the Industrial Products sector. This group includes 222 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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 #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for HLIO's full-year earnings has moved 4.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

ADVERTISEMENT

According to our latest data, HLIO has moved about 5.8% on a year-to-date basis. Meanwhile, the Industrial Products sector has returned an average of 4.7% on a year-to-date basis. As we can see, Helios Technologies is performing better than its sector in the calendar year.

One other Industrial Products stock that has outperformed the sector so far this year is Applied Industrial Technologies (AIT). The stock is up 8.9% year-to-date.

For Applied Industrial Technologies, the consensus EPS estimate for the current year has increased 2.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Helios Technologies is a member of the Manufacturing - General Industrial industry, which includes 44 individual companies and currently sits at #73 in the Zacks Industry Rank. On average, stocks in this group have gained 3.7% this year, meaning that HLIO is performing better in terms of year-to-date returns. Applied Industrial Technologies is also part of the same industry.

Investors interested in the Industrial Products sector may want to keep a close eye on Helios Technologies and Applied Industrial Technologies 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

Helios Technologies, Inc (HLIO) : Free Stock Analysis Report

Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research