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Is Olin (OLN) Outperforming Other Basic Materials Stocks This Year?
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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Olin (OLN - 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 OLN and the rest of the Basic Materials group's stocks.
Olin is a member of the Basic Materials sector. This group includes 245 individual stocks and currently holds a Zacks Sector Rank of #7. 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. OLN is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for OLN's full-year earnings has moved 323.36% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, OLN has moved about 91.49% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 27.82% on average. This means that Olin is outperforming the sector as a whole this year.
To break things down more, OLN belongs to the Chemical - Diversified industry, a group that includes 42 individual companies and currently sits at #61 in the Zacks Industry Rank. Stocks in this group have gained about 18.93% so far this year, so OLN is performing better this group in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track OLN. The stock will be looking to continue its solid performance.
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Is Olin (OLN) Outperforming Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Olin (OLN - 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 OLN and the rest of the Basic Materials group's stocks.
Olin is a member of the Basic Materials sector. This group includes 245 individual stocks and currently holds a Zacks Sector Rank of #7. 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. OLN is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for OLN's full-year earnings has moved 323.36% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, OLN has moved about 91.49% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 27.82% on average. This means that Olin is outperforming the sector as a whole this year.
To break things down more, OLN belongs to the Chemical - Diversified industry, a group that includes 42 individual companies and currently sits at #61 in the Zacks Industry Rank. Stocks in this group have gained about 18.93% so far this year, so OLN is performing better this group in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track OLN. The stock will be looking to continue its solid performance.