For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Cosan (CZZ - Free Report) one of those stocks right now? 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.
Cosan 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 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 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. CZZ is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CZZ's full-year earnings has moved 1.15% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CZZ has gained about 55.34% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 4.16% on average. As we can see, Cosan is performing better than its sector in the calendar year.
Looking more specifically, CZZ belongs to the Agriculture - Products industry, a group that includes 5 individual stocks and currently sits at #37 in the Zacks Industry Rank.
Investors with an interest in Basic Materials stocks should continue to track CZZ. The stock will be looking to continue its solid performance.