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Is Olympic Steel (ZEUS) Outperforming Other Basic Materials Stocks This Year?
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For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Olympic Steel (ZEUS - Free Report) been one of those stocks this year? 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.
Olympic Steel is one of 245 companies in the Basic Materials group. The Basic Materials group currently sits at #6 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 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. ZEUS is currently sporting a Zacks Rank of #3 (Hold).
Over the past 90 days, the Zacks Consensus Estimate for ZEUS's full-year earnings has moved 137.73% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ZEUS has moved about 143.89% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 25.19% on average. This shows that Olympic Steel is outperforming its peers so far this year.
Breaking things down more, ZEUS is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #18 in the Zacks Industry Rank. This group has gained an average of 53.08% so far this year, so ZEUS is performing better in this area.
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?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Olympic Steel (ZEUS - Free Report) been one of those stocks this year? 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.
Olympic Steel is one of 245 companies in the Basic Materials group. The Basic Materials group currently sits at #6 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 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. ZEUS is currently sporting a Zacks Rank of #3 (Hold).
Over the past 90 days, the Zacks Consensus Estimate for ZEUS's full-year earnings has moved 137.73% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ZEUS has moved about 143.89% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 25.19% on average. This shows that Olympic Steel is outperforming its peers so far this year.
Breaking things down more, ZEUS is a member of the Steel - Producers industry, which includes 24 individual companies and currently sits at #18 in the Zacks Industry Rank. This group has gained an average of 53.08% so far this year, so ZEUS is performing better in this area.
Investors in the Basic Materials sector will want to keep a close eye on ZEUS as it attempts to continue its solid performance.