We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is DAQO New Energy (DQ) Outperforming Other Basic Materials Stocks This Year?
Read MoreHide Full Article
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. DAQO New Energy (DQ - Free Report) 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? One simple way to answer this question is to take a look at the year-to-date performance of DQ and the rest of the Basic Materials group's stocks.
DAQO New Energy is one of 240 companies in the Basic Materials group. The Basic Materials group currently sits at #4 within the Zacks Sector Rank. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. DQ is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for DQ's full-year earnings has moved 42.55% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, DQ has gained about 59.01% so far this year. At the same time, Basic Materials stocks have gained an average of 11.50%. This means that DAQO New Energy is performing better than its sector in terms of year-to-date returns.
Breaking things down more, DQ is a member of the Chemical - Specialty industry, which includes 35 individual companies and currently sits at #151 in the Zacks Industry Rank. On average, this group has gained an average of 10.36% so far 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Is DAQO New Energy (DQ) Outperforming Other Basic Materials Stocks This Year?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. DAQO New Energy (DQ - Free Report) 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? One simple way to answer this question is to take a look at the year-to-date performance of DQ and the rest of the Basic Materials group's stocks.
DAQO New Energy is one of 240 companies in the Basic Materials group. The Basic Materials group currently sits at #4 within the Zacks Sector Rank. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. DQ is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for DQ's full-year earnings has moved 42.55% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, DQ has gained about 59.01% so far this year. At the same time, Basic Materials stocks have gained an average of 11.50%. This means that DAQO New Energy is performing better than its sector in terms of year-to-date returns.
Breaking things down more, DQ is a member of the Chemical - Specialty industry, which includes 35 individual companies and currently sits at #151 in the Zacks Industry Rank. On average, this group has gained an average of 10.36% so far 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.