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Has Alcoa (AA) Outpaced Other Industrial Products Stocks This Year?
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For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Alcoa (AA - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Alcoa is one of 224 companies in the Industrial Products group. The Industrial Products group currently sits at #7 within 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. Alcoa is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AA's full-year earnings has moved 20% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AA has returned about 39.1% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of -9% on a year-to-date basis. This shows that Alcoa is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is Reliance Steel (RS - Free Report) . The stock is up 17.1% year-to-date.
The consensus estimate for Reliance Steel's current year EPS has increased 19.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Alcoa belongs to the Metal Products - Distribution industry, a group that includes 6 individual companies and currently sits at #56 in the Zacks Industry Rank. This group has gained an average of 19.8% so far this year, so AA is performing better in this area. Reliance Steel is also part of the same industry.
Investors with an interest in Industrial Products stocks should continue to track Alcoa and Reliance Steel. These stocks will be looking to continue their solid performance.
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Has Alcoa (AA) Outpaced Other Industrial Products Stocks This Year?
For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Alcoa (AA - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Alcoa is one of 224 companies in the Industrial Products group. The Industrial Products group currently sits at #7 within 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. Alcoa is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AA's full-year earnings has moved 20% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AA has returned about 39.1% since the start of the calendar year. Meanwhile, the Industrial Products sector has returned an average of -9% on a year-to-date basis. This shows that Alcoa is outperforming its peers so far this year.
One other Industrial Products stock that has outperformed the sector so far this year is Reliance Steel (RS - Free Report) . The stock is up 17.1% year-to-date.
The consensus estimate for Reliance Steel's current year EPS has increased 19.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Alcoa belongs to the Metal Products - Distribution industry, a group that includes 6 individual companies and currently sits at #56 in the Zacks Industry Rank. This group has gained an average of 19.8% so far this year, so AA is performing better in this area. Reliance Steel is also part of the same industry.
Investors with an interest in Industrial Products stocks should continue to track Alcoa and Reliance Steel. These stocks will be looking to continue their solid performance.