Are Helios Technologies (HLIO) Shares Underperforming Other Industrial Products Stocks in 2024?

Helios Technologies and Proto Labs: Outperforming the Industrial Products Sector

While the Industrial Products sector features many strong performers, investors often seek out companies that are excelling beyond their industry peers. Helios Technologies (HLIO) is one such stock that has caught the eye of many. But how does its recent performance measure up against the broader sector? Comparing its year-to-date results with the rest of the Industrial Products group provides valuable insight.

Helios Technologies is one of 179 stocks within the Industrial Products sector, which currently holds the #8 position in the Zacks Sector Rank. This ranking system evaluates the relative strength of 16 different sectors by analyzing the average Zacks Rank of their constituent stocks.

The Zacks Rank is a well-established tool for identifying stocks with the potential to outperform the market over the next one to three months. It places particular emphasis on upward revisions to earnings estimates, favoring companies with a positive earnings outlook. At present, Helios Technologies holds a Zacks Rank of #2 (Buy).

Over the last quarter, analysts have raised their consensus estimate for HLIO’s full-year earnings by 1.7%, signaling growing optimism about the company’s future profitability.

According to the most recent data, HLIO has delivered a return of approximately 26.4% since the beginning of the year. In contrast, the average return for companies in the Industrial Products sector stands at 12.9%. This demonstrates that Helios Technologies is significantly outperforming its sector so far this year.

Another standout in the sector is Proto Labs (PRLB), which has also surpassed the sector’s average performance. Since January, Proto Labs has achieved a return of 20.8%.

In the past three months, the consensus earnings per share estimate for Proto Labs has climbed by 23.2%, and the stock currently boasts a Zacks Rank #1 (Strong Buy).

Looking more closely, Helios Technologies is part of the Manufacturing - General Industrial industry, which includes 43 companies and is ranked #77 in the Zacks Industry Rank. This group has posted gains of about 11.9% year-to-date, meaning HLIO is outperforming its industry as well.

Proto Labs, on the other hand, operates within the Rubber - Plastics industry, a smaller group of three stocks currently ranked #14. This industry has advanced by 21.2% so far this year.

Investors interested in the Industrial Products sector should keep an eye on both Helios Technologies and Proto Labs, as both companies are showing strong momentum and may continue to deliver impressive results.

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