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Are Basic Materials Stocks Lagging Allegheny Technologies (ATI) 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. Allegheny Technologies (ATI - 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? 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 241 individual stocks in the Basic Materials sector. Collectively, these companies sit 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 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 #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ATI's full-year earnings has moved 48.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ATI has returned about 40.7% since the start of the calendar year. At the same time, Basic Materials stocks have lost an average of 7.8%. 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 TimkenSteel . The stock has returned 17.3% year-to-date.
Over the past three months, TimkenSteel's consensus EPS estimate for the current year has increased 16.9%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Allegheny Technologies is a member of the Steel - Speciality industry, which includes 4 individual companies and currently sits at #13 in the Zacks Industry Rank. On average, this group has gained an average of 15.4% so far this year, meaning that ATI is performing better in terms of year-to-date returns.
On the other hand, TimkenSteel belongs to the Steel - Producers industry. This 24-stock industry is currently ranked #47. The industry has moved +0.6% year to date.
Investors with an interest in Basic Materials stocks should continue to track Allegheny Technologies and TimkenSteel. These stocks will be looking to continue their solid performance.
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Are Basic Materials Stocks Lagging Allegheny Technologies (ATI) 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. Allegheny Technologies (ATI - 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? 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 241 individual stocks in the Basic Materials sector. Collectively, these companies sit 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 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 #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ATI's full-year earnings has moved 48.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ATI has returned about 40.7% since the start of the calendar year. At the same time, Basic Materials stocks have lost an average of 7.8%. 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 TimkenSteel . The stock has returned 17.3% year-to-date.
Over the past three months, TimkenSteel's consensus EPS estimate for the current year has increased 16.9%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Allegheny Technologies is a member of the Steel - Speciality industry, which includes 4 individual companies and currently sits at #13 in the Zacks Industry Rank. On average, this group has gained an average of 15.4% so far this year, meaning that ATI is performing better in terms of year-to-date returns.
On the other hand, TimkenSteel belongs to the Steel - Producers industry. This 24-stock industry is currently ranked #47. The industry has moved +0.6% year to date.
Investors with an interest in Basic Materials stocks should continue to track Allegheny Technologies and TimkenSteel. These stocks will be looking to continue their solid performance.