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Is Albemarle (ALB) 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 Albemarle (ALB - 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.
Albemarle is a member of our Basic Materials group, which includes 241 different companies and currently sits at #4 in 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. Albemarle is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ALB's full-year earnings has moved 108.7% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ALB has returned 4% so far this year. At the same time, Basic Materials stocks have gained an average of 2.9%. This shows that Albemarle is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is Commercial Metals (CMC - Free Report) . The stock is up 4.1% year-to-date.
Over the past three months, Commercial Metals' consensus EPS estimate for the current year has increased 20.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Albemarle belongs to the Chemical - Diversified industry, a group that includes 38 individual stocks and currently sits at #54 in the Zacks Industry Rank. This group has lost an average of 5.5% so far this year, so ALB is performing better in this area.
In contrast, Commercial Metals falls under the Steel - Producers industry. Currently, this industry has 24 stocks and is ranked #33. Since the beginning of the year, the industry has moved +15.4%.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Albemarle and Commercial Metals as they could maintain their solid performance.
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Is Albemarle (ALB) Stock Outpacing Its Basic Materials Peers 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. Is Albemarle (ALB - 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.
Albemarle is a member of our Basic Materials group, which includes 241 different companies and currently sits at #4 in 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. Albemarle is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ALB's full-year earnings has moved 108.7% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ALB has returned 4% so far this year. At the same time, Basic Materials stocks have gained an average of 2.9%. This shows that Albemarle is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is Commercial Metals (CMC - Free Report) . The stock is up 4.1% year-to-date.
Over the past three months, Commercial Metals' consensus EPS estimate for the current year has increased 20.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Albemarle belongs to the Chemical - Diversified industry, a group that includes 38 individual stocks and currently sits at #54 in the Zacks Industry Rank. This group has lost an average of 5.5% so far this year, so ALB is performing better in this area.
In contrast, Commercial Metals falls under the Steel - Producers industry. Currently, this industry has 24 stocks and is ranked #33. Since the beginning of the year, the industry has moved +15.4%.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Albemarle and Commercial Metals as they could maintain their solid performance.