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Has Asahi Kasei (AHKSY) Outpaced Other Basic Materials Stocks This Year?
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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Asahi Kasei Corp. (AHKSY - 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.
Asahi Kasei Corp. is a member of the Basic Materials sector. This group includes 255 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Asahi Kasei Corp. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AHKSY's full-year earnings has moved 4.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AHKSY has returned 20.5% so far this year. In comparison, Basic Materials companies have returned an average of 18.1%. As we can see, Asahi Kasei Corp. is performing better than its sector in the calendar year.
One other Basic Materials stock that has outperformed the sector so far this year is Fortuna Mining (FSM - Free Report) . The stock is up 19.7% year-to-date.
Over the past three months, Fortuna Mining's consensus EPS estimate for the current year has increased 68.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Asahi Kasei Corp. belongs to the Chemical - Diversified industry, which includes 29 individual stocks and currently sits at #198 in the Zacks Industry Rank. On average, this group has gained an average of 20.9% so far this year, meaning that AHKSY is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Fortuna Mining falls under the Mining - Miscellaneous industry. Currently, this industry has 73 stocks and is ranked #59. Since the beginning of the year, the industry has moved +21.1%.
Asahi Kasei Corp. and Fortuna Mining 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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Has Asahi Kasei (AHKSY) Outpaced Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Asahi Kasei Corp. (AHKSY - 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.
Asahi Kasei Corp. is a member of the Basic Materials sector. This group includes 255 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Asahi Kasei Corp. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AHKSY's full-year earnings has moved 4.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AHKSY has returned 20.5% so far this year. In comparison, Basic Materials companies have returned an average of 18.1%. As we can see, Asahi Kasei Corp. is performing better than its sector in the calendar year.
One other Basic Materials stock that has outperformed the sector so far this year is Fortuna Mining (FSM - Free Report) . The stock is up 19.7% year-to-date.
Over the past three months, Fortuna Mining's consensus EPS estimate for the current year has increased 68.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Asahi Kasei Corp. belongs to the Chemical - Diversified industry, which includes 29 individual stocks and currently sits at #198 in the Zacks Industry Rank. On average, this group has gained an average of 20.9% so far this year, meaning that AHKSY is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Fortuna Mining falls under the Mining - Miscellaneous industry. Currently, this industry has 73 stocks and is ranked #59. Since the beginning of the year, the industry has moved +21.1%.
Asahi Kasei Corp. and Fortuna Mining could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.