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Is Olympic Steel (ZEUS) Outperforming Other Basic Materials Stocks 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. Olympic Steel (ZEUS - 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 ZEUS and the rest of the Basic Materials group's stocks.
Olympic Steel is a member of the Basic Materials sector. This group includes 240 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 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. ZEUS is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ZEUS's full-year earnings has moved 292.86% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ZEUS has returned about 97.60% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 11.01%. As we can see, Olympic Steel is performing better than its sector in the calendar year.
Breaking things down more, ZEUS is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #14 in the Zacks Industry Rank. On average, this group has gained an average of 20.26% so far this year, meaning that ZEUS is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on ZEUS as it attempts to continue its solid performance.
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Is Olympic Steel (ZEUS) Outperforming Other Basic Materials Stocks This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Olympic Steel (ZEUS - 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 ZEUS and the rest of the Basic Materials group's stocks.
Olympic Steel is a member of the Basic Materials sector. This group includes 240 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 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. ZEUS is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ZEUS's full-year earnings has moved 292.86% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ZEUS has returned about 97.60% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 11.01%. As we can see, Olympic Steel is performing better than its sector in the calendar year.
Breaking things down more, ZEUS is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #14 in the Zacks Industry Rank. On average, this group has gained an average of 20.26% so far this year, meaning that ZEUS is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on ZEUS as it attempts to continue its solid performance.