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Has Alcoa (AA) Outpaced Other Industrial Products Stocks This Year?
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Investors focused on the Industrial Products space have likely heard of Alcoa (AA - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Alcoa is one of 218 individual stocks in the Industrial Products sector. Collectively, these companies sit at #2 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AA's full-year earnings has moved 127.83% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AA has gained about 56.79% so far this year. Meanwhile, the Industrial Products sector has returned an average of 14.74% on a year-to-date basis. This means that Alcoa is performing better than its sector in terms of year-to-date returns.
Breaking things down more, AA is a member of the Metal Products - Distribution industry, which includes 6 individual companies and currently sits at #7 in the Zacks Industry Rank. On average, stocks in this group have gained 36.69% this year, meaning that AA is performing better in terms of year-to-date returns.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to AA as it looks to continue its solid performance.
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Has Alcoa (AA) Outpaced Other Industrial Products Stocks This Year?
Investors focused on the Industrial Products space have likely heard of Alcoa (AA - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Alcoa is one of 218 individual stocks in the Industrial Products sector. Collectively, these companies sit at #2 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AA's full-year earnings has moved 127.83% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AA has gained about 56.79% so far this year. Meanwhile, the Industrial Products sector has returned an average of 14.74% on a year-to-date basis. This means that Alcoa is performing better than its sector in terms of year-to-date returns.
Breaking things down more, AA is a member of the Metal Products - Distribution industry, which includes 6 individual companies and currently sits at #7 in the Zacks Industry Rank. On average, stocks in this group have gained 36.69% this year, meaning that AA is performing better in terms of year-to-date returns.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to AA as it looks to continue its solid performance.