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? 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.
Lakeland Industries is a member of our Industrial Products group, which includes 211 different companies and currently sits at #10 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. LAKE is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for LAKE’s full-year earnings has moved 41.20% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the most recent data, LAKE has returned 83.33% so far this year. Meanwhile, stocks in the Industrial Products group have lost about 0.26% on average. This means that Lakeland Industries is outperforming the sector as a whole this year.
To break things down more, LAKE belongs to the Security and Safety Services industry, a group that includes 24 individual companies and currently sits at #194 in the Zacks Industry Rank. On average, stocks in this group have gained 5.09% this year, meaning that LAKE is performing better in terms of year-to-date returns.
Investors with an interest in Industrial Products stocks should continue to track LAKE. The stock will be looking to continue its solid performance.
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Lakeland Industries, Inc. (LAKE): Free Stock Analysis Report
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