Investors focused on the Basic Materials space have likely heard of DAQO New Energy (DQ - Free Report) , 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 Basic Materials sector should help us answer this question.
DAQO New Energy is a member of the Basic Materials sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #3. 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 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. DQ is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for DQ's full-year earnings has moved 81.33% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DQ has moved about 20% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 18.90%. This shows that DAQO New Energy is outperforming its peers so far this year.
Breaking things down more, DQ is a member of the Chemical - Specialty industry, which includes 39 individual companies and currently sits at #116 in the Zacks Industry Rank. On average, stocks in this group have gained 2.66% this year, meaning that DQ is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to DQ as it looks to continue its solid performance.
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Investors focused on the Basic Materials space have likely heard of DAQO New Energy (DQ - Free Report) , 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 Basic Materials sector should help us answer this question.
DAQO New Energy is a member of the Basic Materials sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #3. 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 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. DQ is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for DQ's full-year earnings has moved 81.33% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DQ has moved about 20% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 18.90%. This shows that DAQO New Energy is outperforming its peers so far this year.
Breaking things down more, DQ is a member of the Chemical - Specialty industry, which includes 39 individual companies and currently sits at #116 in the Zacks Industry Rank. On average, stocks in this group have gained 2.66% this year, meaning that DQ is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to DQ as it looks to continue its solid performance.
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.
See Stocks Now >>
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