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Is Olympic Steel (ZEUS) Stock Outpacing Its Basic Materials Peers This Year?
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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Olympic Steel (ZEUS - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of ZEUS and the rest of the Basic Materials group's stocks.
Olympic Steel is a member of the Basic Materials sector. This group includes 245 individual stocks and currently holds a Zacks Sector Rank of #7. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ZEUS is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ZEUS's full-year earnings has moved 343.64% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ZEUS has returned about 168.19% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 25.49%. This means that Olympic Steel is outperforming the sector as a whole this year.
Looking more specifically, ZEUS belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #14 in the Zacks Industry Rank. On average, stocks in this group have gained 50.12% this year, meaning that ZEUS is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on ZEUS as it attempts to continue its solid performance.
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Is Olympic Steel (ZEUS) Stock Outpacing Its Basic Materials Peers This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Olympic Steel (ZEUS - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of ZEUS and the rest of the Basic Materials group's stocks.
Olympic Steel is a member of the Basic Materials sector. This group includes 245 individual stocks and currently holds a Zacks Sector Rank of #7. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ZEUS is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ZEUS's full-year earnings has moved 343.64% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ZEUS has returned about 168.19% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 25.49%. This means that Olympic Steel is outperforming the sector as a whole this year.
Looking more specifically, ZEUS belongs to the Steel - Producers industry, which includes 24 individual stocks and currently sits at #14 in the Zacks Industry Rank. On average, stocks in this group have gained 50.12% this year, meaning that ZEUS is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on ZEUS as it attempts to continue its solid performance.