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Is PPG Industries (PPG) Stock Outpacing Its Basic Materials Peers This Year?
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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has PPG Industries (PPG - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
PPG Industries is one of 235 companies in the Basic Materials group. The Basic Materials group currently sits at #12 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. PPG is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PPG's full-year earnings has moved 13.70% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, PPG has returned 8.62% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 20.10% on average. This means that PPG Industries is performing better than its sector in terms of year-to-date returns.
Looking more specifically, PPG belongs to the Chemical - Diversified industry, a group that includes 41 individual stocks and currently sits at #107 in the Zacks Industry Rank. This group has gained an average of 12.54% so far this year, so PPG is slightly underperforming its industry in this area.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to PPG as it looks to continue its solid performance.
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Is PPG Industries (PPG) Stock Outpacing Its Basic Materials Peers This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has PPG Industries (PPG - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
PPG Industries is one of 235 companies in the Basic Materials group. The Basic Materials group currently sits at #12 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. PPG is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PPG's full-year earnings has moved 13.70% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, PPG has returned 8.62% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 20.10% on average. This means that PPG Industries is performing better than its sector in terms of year-to-date returns.
Looking more specifically, PPG belongs to the Chemical - Diversified industry, a group that includes 41 individual stocks and currently sits at #107 in the Zacks Industry Rank. This group has gained an average of 12.54% so far this year, so PPG is slightly underperforming its industry in this area.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to PPG as it looks to continue its solid performance.