For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Lakeland Industries (LAKE) 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.
Lakeland Industries is one of 211 individual stocks in the Industrial Products sector. Collectively, these companies sit 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. LAKE is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for LAKE's full-year earnings has moved 41.20% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, LAKE has returned 116.85% so far this year. Meanwhile, the Industrial Products sector has returned an average of 1.91% on a year-to-date basis. This means that Lakeland Industries is performing better than its sector in terms of year-to-date returns.
Looking more specifically, LAKE belongs to the Security and Safety Services industry, which includes 24 individual stocks and currently sits at #123 in the Zacks Industry Rank. On average, stocks in this group have gained 4.14% this year, meaning that LAKE is performing better in terms of year-to-date returns.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to LAKE as it looks to continue its solid performance.
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Lakeland Industries, Inc. (LAKE) : Free Stock Analysis Report
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