Has Northwest Pipe Company (NWPX) Outpaced Other Industrial Products Stocks This Year?

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Northwest Pipe Co. (NWPX) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Northwest Pipe Co. is a member of the Industrial Products sector. This group includes 212 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Northwest Pipe Co. is currently sporting a Zacks Rank of #1 (Strong Buy).Over the past three months, the Zacks Consensus Estimate for NWPX's full-year earnings has moved 12.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Our latest available data shows that NWPX has returned about 84.7% since the start of the calendar year. At the same time, Industrial Products stocks have gained an average of 23.7%. This shows that Northwest Pipe Co. is outperforming its peers so far this year.Another stock in the Industrial Products sector, Powell Industries (POWL), has outperformed the sector so far this year. The stock's year-to-date return is 217.4%.In Powell Industries' case, the consensus EPS estimate for the current year increased 13% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, Northwest Pipe Co. is a member of the Metal Products - Procurement and Fabrication industry, which includes 11 individual companies and currently sits at #153 in the Zacks Industry Rank. Stocks in this group have gained about 45.7% so far this year, so NWPX is performing better this group in terms of year-to-date returns.On the other hand, Powell Industries belongs to the Manufacturing - Electronics industry. This 16-stock industry is currently ranked #163. The industry has moved +25.1% year to date.Investors interested in the Industrial Products sector may want to keep a close eye on Northwest Pipe Co. and Powell Industries as they attempt to continue their solid performance.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Northwest Pipe Company (NWPX): Free Stock Analysis Report Powell Industries, Inc. (POWL): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks