Is Hudson Technologies (HDSN) Outperforming Other Industrial Products Stocks 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. Hudson Technologies (HDSN) 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.
Hudson Technologies is one of 219 companies in the Industrial Products group. The Industrial Products group currently sits at #2 within the Zacks Sector Rank. 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 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. Hudson Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for HDSN's full-year earnings has moved 20.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, HDSN has moved about 122.3% on a year-to-date basis. At the same time, Industrial Products stocks have lost an average of 11.3%. This shows that Hudson Technologies is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is ADT (ADT). The stock is up 9.5% year-to-date.
Over the past three months, ADT's consensus EPS estimate for the current year has increased 350%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Hudson Technologies belongs to the Industrial Services industry, a group that includes 23 individual companies and currently sits at #44 in the Zacks Industry Rank. On average, stocks in this group have lost 23.1% this year, meaning that HDSN is performing better in terms of year-to-date returns.
ADT, however, belongs to the Security and Safety Services industry. Currently, this 24-stock industry is ranked #73. The industry has moved -19.4% so far this year.
Investors interested in the Industrial Products sector may want to keep a close eye on Hudson Technologies and ADT as they attempt to continue their solid performance.
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Hudson Technologies, Inc. (HDSN) : Free Stock Analysis Report
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