Is Lakeland Industries (LAKE) Outperforming Other Industrial Products Stocks This Year?
Investors interested in Industrial Products stocks should always be looking to find the best-performing companies in the group. Has Lakeland Industries (LAKE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Lakeland Industries is one of 212 individual stocks in the Industrial Products sector. Collectively, these companies sit at #4 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 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. 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 24.32% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, LAKE has gained about 1.65% so far this year. In comparison, Industrial Products companies have returned an average of 1.64%. As we can see, Lakeland Industries is performing better than its sector in the calendar year.
Looking more specifically, LAKE belongs to the Security and Safety Services industry, a group that includes 23 individual stocks and currently sits at #92 in the Zacks Industry Rank. On average, this group has lost an average of 2.24% so far this year, meaning that LAKE is performing better in terms of year-to-date returns.
LAKE will likely be looking to continue its solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to the company.
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