Investors focused on the Basic Materials space have likely heard of Air Products and Chemicals (APD - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Air Products and Chemicals is a member of our Basic Materials group, which includes 239 different companies and currently sits at #10 in the Zacks Sector Rank. 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. APD is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for APD's full-year earnings has moved 1.10% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that APD has returned about 0.05% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of -0.92%. This means that Air Products and Chemicals is performing better than its sector in terms of year-to-date returns.
Breaking things down more, APD is a member of the Chemical - Diversified industry, which includes 44 individual companies and currently sits at #109 in the Zacks Industry Rank. Stocks in this group have lost about 2.77% so far this year, so APD is performing better this group in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track APD. The stock will be looking to continue its solid performance.