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Is Ingevity (NGVT) Outperforming Other Basic Materials Stocks 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 Ingevity (NGVT - 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.
Ingevity is one of 234 individual stocks in the Basic Materials sector. Collectively, these companies sit at #11 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 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. Ingevity is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for NGVT's full-year earnings has moved 29% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, NGVT has returned 12.6% so far this year. Meanwhile, the Basic Materials sector has returned an average of -7.3% on a year-to-date basis. As we can see, Ingevity is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Nouveau Monde Graphite Inc. (NMG - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 32.1%.
For Nouveau Monde Graphite Inc. the consensus EPS estimate for the current year has increased 9.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Ingevity is a member of the Chemical - Specialty industry, which includes 33 individual companies and currently sits at #211 in the Zacks Industry Rank. Stocks in this group have lost about 17.5% so far this year, so NGVT is performing better this group in terms of year-to-date returns.
On the other hand, Nouveau Monde Graphite Inc. belongs to the Mining - Miscellaneous industry. This 60-stock industry is currently ranked #133. The industry has moved -18.7% year to date.
Ingevity and Nouveau Monde Graphite Inc. could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
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Is Ingevity (NGVT) Outperforming Other Basic Materials Stocks 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. Has Ingevity (NGVT - 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.
Ingevity is one of 234 individual stocks in the Basic Materials sector. Collectively, these companies sit at #11 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 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. Ingevity is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for NGVT's full-year earnings has moved 29% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, NGVT has returned 12.6% so far this year. Meanwhile, the Basic Materials sector has returned an average of -7.3% on a year-to-date basis. As we can see, Ingevity is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Nouveau Monde Graphite Inc. (NMG - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 32.1%.
For Nouveau Monde Graphite Inc. the consensus EPS estimate for the current year has increased 9.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Ingevity is a member of the Chemical - Specialty industry, which includes 33 individual companies and currently sits at #211 in the Zacks Industry Rank. Stocks in this group have lost about 17.5% so far this year, so NGVT is performing better this group in terms of year-to-date returns.
On the other hand, Nouveau Monde Graphite Inc. belongs to the Mining - Miscellaneous industry. This 60-stock industry is currently ranked #133. The industry has moved -18.7% year to date.
Ingevity and Nouveau Monde Graphite Inc. could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.