Investors focused on the Basic Materials space have likely heard of Ryerson Holding (RYI - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of RYI and the rest of the Basic Materials group's stocks.
Ryerson Holding is a member of the Basic Materials sector. This group includes 240 individual stocks and currently holds a Zacks Sector Rank of #3. 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 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. RYI is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for RYI's full-year earnings has moved 8.46% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that RYI has returned about 15.39% since the start of the calendar year. At the same time, Basic Materials stocks have lost an average of 4.77%. This shows that Ryerson Holding is outperforming its peers so far this year.
Looking more specifically, RYI belongs to the Steel - Producers industry, which includes 25 individual stocks and currently sits at #34 in the Zacks Industry Rank. On average, this group has lost an average of 4.01% so far this year, meaning that RYI is performing better in terms of year-to-date returns.
RYI will likely be looking to continue its solid performance, so investors interested Basic Materials stocks should continue to pay close attention to the company.