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Is CalMaine Foods (CALM) Outperforming Other Basic Materials Stocks This Year?
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Investors focused on the Basic Materials space have likely heard of CalMaine Foods (CALM - 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 CALM and the rest of the Basic Materials group's stocks.
CalMaine Foods is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #4 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 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. CALM is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CALM's full-year earnings has moved 6.83% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CALM has gained about 3.44% so far this year. At the same time, Basic Materials stocks have lost an average of 7.89%. This means that CalMaine Foods is outperforming the sector as a whole this year.
Looking more specifically, CALM belongs to the Agriculture - Products industry, a group that includes 6 individual stocks and currently sits at #235 in the Zacks Industry Rank. Stocks in this group have lost about 27.29% so far this year, so CALM is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to CALM as it looks to continue its solid performance.
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Is CalMaine Foods (CALM) Outperforming Other Basic Materials Stocks This Year?
Investors focused on the Basic Materials space have likely heard of CalMaine Foods (CALM - 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 CALM and the rest of the Basic Materials group's stocks.
CalMaine Foods is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #4 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 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. CALM is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CALM's full-year earnings has moved 6.83% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CALM has gained about 3.44% so far this year. At the same time, Basic Materials stocks have lost an average of 7.89%. This means that CalMaine Foods is outperforming the sector as a whole this year.
Looking more specifically, CALM belongs to the Agriculture - Products industry, a group that includes 6 individual stocks and currently sits at #235 in the Zacks Industry Rank. Stocks in this group have lost about 27.29% so far this year, so CALM is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to CALM as it looks to continue its solid performance.