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Is CECO Environmental (CECO) Stock Outpacing Its Industrial Products Peers This Year?

Zacks Equity Research
·2-min read

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is CECO Environmental (CECO) one of those stocks right now? 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.

CECO Environmental is a member of our Industrial Products group, which includes 219 different companies and currently sits at #6 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 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. CECO Environmental is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for CECO's full-year earnings has moved 15.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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According to our latest data, CECO has moved about 90.9% on a year-to-date basis. Meanwhile, stocks in the Industrial Products group have lost about 11.1% on average. This means that CECO Environmental is outperforming the sector as a whole this year.

One other Industrial Products stock that has outperformed the sector so far this year is Cintas (CTAS). The stock is up 0.2% year-to-date.

For Cintas, the consensus EPS estimate for the current year has increased 3.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, CECO Environmental belongs to the Pollution Control industry, a group that includes 8 individual companies and currently sits at #29 in the Zacks Industry Rank. Stocks in this group have lost about 8.8% so far this year, so CECO is performing better this group in terms of year-to-date returns.

On the other hand, Cintas belongs to the Uniform and Related industry. This 2-stock industry is currently ranked #92. The industry has moved +0.4% year to date.

Going forward, investors interested in Industrial Products stocks should continue to pay close attention to CECO Environmental and Cintas as they could maintain their solid performance.


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CECO Environmental Corp. (CECO) : Free Stock Analysis Report
 
Cintas Corporation (CTAS) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research