Is Lakeland Industries (LAKE) Outperforming Other Industrial Products Stocks This Year?
Investors focused on the Industrial Products space have likely heard of Lakeland Industries (LAKE), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Lakeland Industries is one of 215 individual stocks in the Industrial Products sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. 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 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. LAKE is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for LAKE's full-year earnings has moved 202.60% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that LAKE has returned about 104.72% since the start of the calendar year. Meanwhile, stocks in the Industrial Products group have lost about 8.09% on average. 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 22 individual stocks and currently sits at #56 in the Zacks Industry Rank. Stocks in this group have lost about 2.45% so far this year, so LAKE 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 LAKE as it looks 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.