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Is Ryerson (RYI) Outperforming 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. Is Ryerson Holding (RYI - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Ryerson Holding is a member of our Basic Materials group, which includes 239 different companies and currently sits at #11 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 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. Ryerson Holding is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for RYI's full-year earnings has moved 2.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, RYI has returned 11.4% so far this year. In comparison, Basic Materials companies have returned an average of -12.6%. As we can see, Ryerson Holding is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Silica Holdings (SLCA - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 37.5%.
For Silica Holdings, the consensus EPS estimate for the current year has increased 37.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Ryerson Holding belongs to the Steel - Producers industry, a group that includes 24 individual companies and currently sits at #193 in the Zacks Industry Rank. On average, stocks in this group have lost 10.5% this year, meaning that RYI is performing better in terms of year-to-date returns.
Silica Holdings, however, belongs to the Mining - Miscellaneous industry. Currently, this 46-stock industry is ranked #156. The industry has moved -11.5% so far this year.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Ryerson Holding and Silica Holdings as they could maintain their solid performance.