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Is Plug Power (PLUG) Outperforming Other Industrial Products Stocks 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 Plug Power (PLUG) 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.

Plug Power is a member of the Industrial Products sector. This group includes 211 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. 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 19.16% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that PLUG has returned about 368.35% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 1.91%. This shows that Plug Power is outperforming its peers so far this year.

Looking more specifically, PLUG belongs to the Manufacturing - Electronics industry, a group that includes 16 individual stocks and currently sits at #64 in the Zacks Industry Rank. Stocks in this group have lost about 1.21% so far this year, so PLUG is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Industrial Products stocks should continue to pay close attention to PLUG as it looks to continue its solid performance.


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