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Has Allegheny Technologies (ATI) Outpaced 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. Has Allegheny Technologies (ATI - Free Report) been one of those stocks this year? 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.
Allegheny Technologies is one of 242 companies in the Basic Materials group. The Basic Materials group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Allegheny Technologies is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ATI's full-year earnings has moved 61% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ATI has gained about 66.3% so far this year. In comparison, Basic Materials companies have returned an average of 14.5%. This means that Allegheny Technologies is performing better than its sector in terms of year-to-date returns.
Another Basic Materials stock, which has outperformed the sector so far this year, is CF Industries (CF - Free Report) . The stock has returned 41% year-to-date.
In CF Industries' case, the consensus EPS estimate for the current year increased 27.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Allegheny Technologies belongs to the Steel - Speciality industry, a group that includes 4 individual stocks and currently sits at #5 in the Zacks Industry Rank. On average, stocks in this group have gained 43.2% this year, meaning that ATI is performing better in terms of year-to-date returns.
CF Industries, however, belongs to the Fertilizers industry. Currently, this 7-stock industry is ranked #7. The industry has moved +40.5% so far this year.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Allegheny Technologies and CF Industries as they could maintain their solid performance.
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Has Allegheny Technologies (ATI) Outpaced 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. Has Allegheny Technologies (ATI - Free Report) been one of those stocks this year? 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.
Allegheny Technologies is one of 242 companies in the Basic Materials group. The Basic Materials group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Allegheny Technologies is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ATI's full-year earnings has moved 61% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ATI has gained about 66.3% so far this year. In comparison, Basic Materials companies have returned an average of 14.5%. This means that Allegheny Technologies is performing better than its sector in terms of year-to-date returns.
Another Basic Materials stock, which has outperformed the sector so far this year, is CF Industries (CF - Free Report) . The stock has returned 41% year-to-date.
In CF Industries' case, the consensus EPS estimate for the current year increased 27.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Allegheny Technologies belongs to the Steel - Speciality industry, a group that includes 4 individual stocks and currently sits at #5 in the Zacks Industry Rank. On average, stocks in this group have gained 43.2% this year, meaning that ATI is performing better in terms of year-to-date returns.
CF Industries, however, belongs to the Fertilizers industry. Currently, this 7-stock industry is ranked #7. The industry has moved +40.5% so far this year.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Allegheny Technologies and CF Industries as they could maintain their solid performance.