Investors focused on the Basic Materials space have likely heard of AgroFresh Solutions (AGFS - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
AgroFresh Solutions is one of 239 companies in the Basic Materials group. The Basic Materials group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. AGFS is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AGFS's full-year earnings has moved 36.56% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AGFS has returned 22.48% so far this year. Meanwhile, the Basic Materials sector has returned an average of -9.57% on a year-to-date basis. This means that AgroFresh Solutions is performing better than its sector in terms of year-to-date returns.
To break things down more, AGFS belongs to the Chemical - Specialty industry, a group that includes 33 individual companies and currently sits at #154 in the Zacks Industry Rank. Stocks in this group have gained about 30.19% so far this year, so AGFS is slightly underperforming its industry this group in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track AGFS. The stock will be looking to continue its solid performance.