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Is CalMaine Foods (CALM) Stock Outpacing Its Basic Materials Peers This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Cal-Maine Foods (CALM - 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? Let's take a closer look at the stock's year-to-date performance to find out.
Cal-Maine Foods is a member of our Basic Materials group, which includes 238 different companies and currently sits at #9 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 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. Cal-Maine Foods is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CALM's full-year earnings has moved 106.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CALM has returned 12.7% so far this year. At the same time, Basic Materials stocks have gained an average of 6.1%. This shows that Cal-Maine Foods is outperforming its peers so far this year.
Another stock in the Basic Materials sector, Teck Resources Ltd (TECK - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 16.7%.
In Teck Resources Ltd's case, the consensus EPS estimate for the current year increased 8.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cal-Maine Foods belongs to the Agriculture - Products industry, a group that includes 7 individual stocks and currently sits at #49 in the Zacks Industry Rank. On average, stocks in this group have gained 3.9% this year, meaning that CALM is performing better in terms of year-to-date returns.
In contrast, Teck Resources Ltd falls under the Mining - Miscellaneous industry. Currently, this industry has 49 stocks and is ranked #84. Since the beginning of the year, the industry has moved +6.7%.
Investors with an interest in Basic Materials stocks should continue to track Cal-Maine Foods and Teck Resources Ltd. These stocks will be looking to continue their solid performance.