Is Sharps Compliance (SMED) Stock Outpacing Its Industrial Products Peers This Year?

Investors focused on the Industrial Products space have likely heard of Sharps Compliance (SMED), 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.

Sharps Compliance is a member of our Industrial Products group, which includes 220 different companies and currently sits at #15 in 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. SMED is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for SMED's full-year earnings has moved 50% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, SMED has moved about 84.12% on a year-to-date basis. Meanwhile, stocks in the Industrial Products group have lost about 28.05% on average. This means that Sharps Compliance is performing better than its sector in terms of year-to-date returns.

Looking more specifically, SMED belongs to the Pollution Control industry, which includes 11 individual stocks and currently sits at #205 in the Zacks Industry Rank. This group has lost an average of 27.10% so far this year, so SMED is performing better in this area.

Investors in the Industrial Products sector will want to keep a close eye on SMED as it attempts 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.

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