The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Plug Power (PLUG) 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? One simple way to answer this question is to take a look at the year-to-date performance of PLUG and the rest of the Industrial Products group's stocks.
Plug Power is one of 213 companies in the Industrial Products group. The Industrial Products group currently sits at #16 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. PLUG is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PLUG's full-year earnings has moved 4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, PLUG has returned 145.16% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 14.09% on average. This means that Plug Power is outperforming the sector as a whole this year.
Looking more specifically, PLUG belongs to the Manufacturing - Electronics industry, which includes 17 individual stocks and currently sits at #168 in the Zacks Industry Rank. This group has gained an average of 11.73% so far this year, so PLUG is performing better in this area.
PLUG 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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