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Is Element Solutions (ESI) Outperforming Other Basic Materials Stocks 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. Has Element Solutions (ESI - Free Report) been one of those stocks this year? 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.
Element Solutions is one of 248 companies in the Basic Materials group. The Basic Materials group currently sits at #13 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. Element Solutions is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ESI's full-year earnings has moved 5.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ESI has returned 71.3% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 12% on average. This means that Element Solutions is outperforming the sector as a whole this year.
Carpenter Technology (CRS - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 35.8%.
Over the past three months, Carpenter Technology's consensus EPS estimate for the current year has increased 2.2%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Element Solutions is a member of the Chemical - Specialty industry, which includes 44 individual companies and currently sits at #180 in the Zacks Industry Rank. On average, stocks in this group have gained 9.2% this year, meaning that ESI is performing better in terms of year-to-date returns.
Carpenter Technology, however, belongs to the Steel - Speciality industry. Currently, this 6-stock industry is ranked #231. The industry has moved +30.7% so far this year.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Element Solutions and Carpenter Technology as they could maintain their solid performance.
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Is Element Solutions (ESI) Outperforming Other Basic Materials Stocks This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Element Solutions (ESI - Free Report) been one of those stocks this year? 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.
Element Solutions is one of 248 companies in the Basic Materials group. The Basic Materials group currently sits at #13 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. Element Solutions is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ESI's full-year earnings has moved 5.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ESI has returned 71.3% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 12% on average. This means that Element Solutions is outperforming the sector as a whole this year.
Carpenter Technology (CRS - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 35.8%.
Over the past three months, Carpenter Technology's consensus EPS estimate for the current year has increased 2.2%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Element Solutions is a member of the Chemical - Specialty industry, which includes 44 individual companies and currently sits at #180 in the Zacks Industry Rank. On average, stocks in this group have gained 9.2% this year, meaning that ESI is performing better in terms of year-to-date returns.
Carpenter Technology, however, belongs to the Steel - Speciality industry. Currently, this 6-stock industry is ranked #231. The industry has moved +30.7% so far this year.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Element Solutions and Carpenter Technology as they could maintain their solid performance.