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Are Basic Materials Stocks Lagging ATI Inc. (ATI) This Year?
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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Allegheny Technologies (ATI - 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Allegheny Technologies is one of 238 companies in the Basic Materials group. The Basic Materials group currently sits at #11 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 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. Allegheny Technologies is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ATI's full-year earnings has moved 4.6% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ATI has returned 72.6% so far this year. Meanwhile, the Basic Materials sector has returned an average of 14.5% on a year-to-date basis. As we can see, Allegheny Technologies is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Gold Fields (GFI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 87%.
In Gold Fields' case, the consensus EPS estimate for the current year increased 28.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Allegheny Technologies belongs to the Steel - Speciality industry, a group that includes 5 individual stocks and currently sits at #52 in the Zacks Industry Rank. This group has gained an average of 59.5% so far this year, so ATI is performing better in this area.
Gold Fields, however, belongs to the Mining - Gold industry. Currently, this 39-stock industry is ranked #37. The industry has moved +58.6% so far this year.
Allegheny Technologies and Gold Fields 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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Are Basic Materials Stocks Lagging ATI Inc. (ATI) This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Allegheny Technologies (ATI - 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Allegheny Technologies is one of 238 companies in the Basic Materials group. The Basic Materials group currently sits at #11 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 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. Allegheny Technologies is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ATI's full-year earnings has moved 4.6% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ATI has returned 72.6% so far this year. Meanwhile, the Basic Materials sector has returned an average of 14.5% on a year-to-date basis. As we can see, Allegheny Technologies is performing better than its sector in the calendar year.
Another stock in the Basic Materials sector, Gold Fields (GFI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 87%.
In Gold Fields' case, the consensus EPS estimate for the current year increased 28.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Allegheny Technologies belongs to the Steel - Speciality industry, a group that includes 5 individual stocks and currently sits at #52 in the Zacks Industry Rank. This group has gained an average of 59.5% so far this year, so ATI is performing better in this area.
Gold Fields, however, belongs to the Mining - Gold industry. Currently, this 39-stock industry is ranked #37. The industry has moved +58.6% so far this year.
Allegheny Technologies and Gold Fields could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.