For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Steel Dynamics (STLD - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Steel Dynamics is one of 240 individual stocks in the Basic Materials sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. STLD is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for STLD's full-year earnings has moved 22.21% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, STLD has moved about 9.60% on a year-to-date basis. At the same time, Basic Materials stocks have lost an average of 3.85%. This means that Steel Dynamics is outperforming the sector as a whole this year.
Looking more specifically, STLD belongs to the Steel - Producers industry, a group that includes 25 individual stocks and currently sits at #39 in the Zacks Industry Rank. Stocks in this group have lost about 1.56% so far this year, so STLD is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to STLD as it looks to continue its solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Steel Dynamics (STLD - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Steel Dynamics is one of 240 individual stocks in the Basic Materials sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. STLD is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for STLD's full-year earnings has moved 22.21% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, STLD has moved about 9.60% on a year-to-date basis. At the same time, Basic Materials stocks have lost an average of 3.85%. This means that Steel Dynamics is outperforming the sector as a whole this year.
Looking more specifically, STLD belongs to the Steel - Producers industry, a group that includes 25 individual stocks and currently sits at #39 in the Zacks Industry Rank. Stocks in this group have lost about 1.56% so far this year, so STLD is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to STLD as it looks to continue its solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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