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Is Olin (OLN) Stock Outpacing Its Basic Materials Peers 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. Is Olin (OLN - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.

Olin is a member of our Basic Materials group, which includes 245 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. OLN is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for OLN's full-year earnings has moved 321.94% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, OLN has moved about 102.04% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 27.95%. This means that Olin is outperforming the sector as a whole this year.

Looking more specifically, OLN belongs to the Chemical - Diversified industry, a group that includes 42 individual stocks and currently sits at #62 in the Zacks Industry Rank. On average, stocks in this group have gained 19.45% this year, meaning that OLN is performing better in terms of year-to-date returns.

Investors in the Basic Materials sector will want to keep a close eye on OLN as it attempts to continue its solid performance.


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