Is CECO Environmental (CECE) Stock Outpacing Its Industrial Products Peers This Year?
Investors focused on the Industrial Products space have likely heard of CECO Environmental (CECE), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CECE and the rest of the Industrial Products group's stocks.
CECO Environmental is a member of the Industrial Products sector. This group includes 215 individual stocks and currently holds a Zacks Sector Rank of #15. 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. CECE is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CECE's full-year earnings has moved 25% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CECE has returned 40.59% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 14.71% on average. This means that CECO Environmental is performing better than its sector in terms of year-to-date returns.
Breaking things down more, CECE is a member of the Pollution Control industry, which includes 14 individual companies and currently sits at #101 in the Zacks Industry Rank. This group has gained an average of 23.87% so far this year, so CECE is performing better in this area.
Investors with an interest in Industrial Products stocks should continue to track CECE. The stock will be looking to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.