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Are Basic Materials Stocks Lagging Ryerson (RYI) 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. Has Ryerson Holding (RYI - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Ryerson Holding is one of 241 companies in the Basic Materials group. The Basic Materials group currently sits at #14 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Ryerson Holding is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for RYI's full-year earnings has moved 24.6% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, RYI has gained about 43.4% so far this year. At the same time, Basic Materials stocks have gained an average of 7.7%. This means that Ryerson Holding 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 Universal Stainless & Alloy Products (USAP - Free Report) . The stock is up 107.8% year-to-date.

In Universal Stainless & Alloy Products' case, the consensus EPS estimate for the current year increased 566.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Ryerson Holding belongs to the Steel - Producers industry, a group that includes 23 individual stocks and currently sits at #46 in the Zacks Industry Rank. Stocks in this group have gained about 29.3% so far this year, so RYI is performing better this group in terms of year-to-date returns. Universal Stainless & Alloy Products is also part of the same industry.

Investors with an interest in Basic Materials stocks should continue to track Ryerson Holding and Universal Stainless & Alloy Products. These stocks will be looking to continue their solid performance.


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Universal Stainless & Alloy Products, Inc. (USAP) - free report >>

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