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Are Basic Materials Stocks Lagging ATI Inc. (ATI) This Year?
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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. 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 239 individual stocks in the Basic Materials sector. Collectively, these companies sit at #12 in 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 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. 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 39.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ATI has moved about 107.7% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have lost about 4.2% on average. This shows that Allegheny Technologies is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Clearwater Paper (CLW - Free Report) . The stock has returned 20.3% year-to-date.
The consensus estimate for Clearwater Paper's current year EPS has increased 13.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Allegheny Technologies is a member of the Steel - Speciality industry, which includes 4 individual companies and currently sits at #2 in the Zacks Industry Rank. Stocks in this group have gained about 58.5% so far this year, so ATI is performing better this group in terms of year-to-date returns.
On the other hand, Clearwater Paper belongs to the Paper and Related Products industry. This 13-stock industry is currently ranked #40. The industry has moved -7.1% year to date.
Investors interested in the Basic Materials sector may want to keep a close eye on Allegheny Technologies and Clearwater Paper as they attempt to continue their solid performance.
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Are Basic Materials Stocks Lagging ATI Inc. (ATI) This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. 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 239 individual stocks in the Basic Materials sector. Collectively, these companies sit at #12 in 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 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. 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 39.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ATI has moved about 107.7% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have lost about 4.2% on average. This shows that Allegheny Technologies is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Clearwater Paper (CLW - Free Report) . The stock has returned 20.3% year-to-date.
The consensus estimate for Clearwater Paper's current year EPS has increased 13.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Allegheny Technologies is a member of the Steel - Speciality industry, which includes 4 individual companies and currently sits at #2 in the Zacks Industry Rank. Stocks in this group have gained about 58.5% so far this year, so ATI is performing better this group in terms of year-to-date returns.
On the other hand, Clearwater Paper belongs to the Paper and Related Products industry. This 13-stock industry is currently ranked #40. The industry has moved -7.1% year to date.
Investors interested in the Basic Materials sector may want to keep a close eye on Allegheny Technologies and Clearwater Paper as they attempt to continue their solid performance.