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Is Steel Dynamics (STLD) Stock Outpacing Its Basic Materials Peers This Year?
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Investors focused on the Basic Materials space have likely heard of Steel Dynamics (STLD - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Steel Dynamics is a member of the Basic Materials sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #3. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. STLD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for STLD's full-year earnings has moved 106.14% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, STLD has moved about 66.04% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 18.22% on average. This means that Steel Dynamics is outperforming the sector as a whole this year.
Looking more specifically, STLD belongs to the Steel - Producers industry, a group that includes 24 individual stocks and currently sits at #6 in the Zacks Industry Rank. This group has gained an average of 43.13% so far this year, so STLD is performing better in this area.
Investors in the Basic Materials sector will want to keep a close eye on STLD as it attempts to continue its solid performance.
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Is Steel Dynamics (STLD) Stock Outpacing Its Basic Materials Peers This Year?
Investors focused on the Basic Materials space have likely heard of Steel Dynamics (STLD - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Steel Dynamics is a member of the Basic Materials sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #3. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. STLD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for STLD's full-year earnings has moved 106.14% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, STLD has moved about 66.04% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 18.22% on average. This means that Steel Dynamics is outperforming the sector as a whole this year.
Looking more specifically, STLD belongs to the Steel - Producers industry, a group that includes 24 individual stocks and currently sits at #6 in the Zacks Industry Rank. This group has gained an average of 43.13% so far this year, so STLD is performing better in this area.
Investors in the Basic Materials sector will want to keep a close eye on STLD as it attempts to continue its solid performance.