For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Sharps Compliance (SMED) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Sharps Compliance is one of 214 individual stocks in the Industrial Products sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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 44.44% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, SMED has gained about 26.54% so far this year. In comparison, Industrial Products companies have returned an average of 2.51%. This means that Sharps Compliance is outperforming the sector as a whole this year.
Looking more specifically, SMED belongs to the Pollution Control industry, which includes 12 individual stocks and currently sits at #67 in the Zacks Industry Rank. Stocks in this group have gained about 2.18% so far this year, so SMED is performing better this group in terms of year-to-date returns.
Investors with an interest in Industrial Products stocks should continue to track SMED. The stock will be looking to continue its solid performance.
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Zacks Investment Research