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Is PPG Industries (PPG) 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. PPG Industries (PPG - 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.
PPG Industries is one of 236 individual stocks in the Basic Materials sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. PPG Industries is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for PPG's full-year earnings has moved 12% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, PPG has gained about 11.6% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 4.3% on average. This means that PPG Industries is performing better than its sector in terms of year-to-date returns.
One other Basic Materials stock that has outperformed the sector so far this year is Ryerson Holding (RYI - Free Report) . The stock is up 24.8% year-to-date.
Over the past three months, Ryerson Holding's consensus EPS estimate for the current year has increased 19.8%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, PPG Industries belongs to the Chemical - Specialty industry, a group that includes 34 individual companies and currently sits at #185 in the Zacks Industry Rank. On average, stocks in this group have gained 6.4% this year, meaning that PPG is performing better in terms of year-to-date returns.
On the other hand, Ryerson Holding belongs to the Steel - Producers industry. This 24-stock industry is currently ranked #33. The industry has moved +16.2% year to date.
Investors with an interest in Basic Materials stocks should continue to track PPG Industries and Ryerson Holding. These stocks will be looking to continue their solid performance.
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Is PPG Industries (PPG) 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. PPG Industries (PPG - 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.
PPG Industries is one of 236 individual stocks in the Basic Materials sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. PPG Industries is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for PPG's full-year earnings has moved 12% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, PPG has gained about 11.6% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 4.3% on average. This means that PPG Industries is performing better than its sector in terms of year-to-date returns.
One other Basic Materials stock that has outperformed the sector so far this year is Ryerson Holding (RYI - Free Report) . The stock is up 24.8% year-to-date.
Over the past three months, Ryerson Holding's consensus EPS estimate for the current year has increased 19.8%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, PPG Industries belongs to the Chemical - Specialty industry, a group that includes 34 individual companies and currently sits at #185 in the Zacks Industry Rank. On average, stocks in this group have gained 6.4% this year, meaning that PPG is performing better in terms of year-to-date returns.
On the other hand, Ryerson Holding belongs to the Steel - Producers industry. This 24-stock industry is currently ranked #33. The industry has moved +16.2% year to date.
Investors with an interest in Basic Materials stocks should continue to track PPG Industries and Ryerson Holding. These stocks will be looking to continue their solid performance.