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Has Olin (OLN) Outpaced Other Basic Materials Stocks This Year?
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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Olin (OLN - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Olin is one of 251 individual stocks in the Basic Materials sector. Collectively, these companies sit at #8 in 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 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. OLN is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for OLN's full-year earnings has moved 29.53% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that OLN has returned about 89.09% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 14.92%. As we can see, Olin is performing better than its sector in the calendar year.
Breaking things down more, OLN is a member of the Chemical - Diversified industry, which includes 41 individual companies and currently sits at #95 in the Zacks Industry Rank. This group has gained an average of 11.48% so far this year, so OLN is performing better in this area.
OLN will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.
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Has Olin (OLN) Outpaced Other Basic Materials Stocks This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Olin (OLN - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Olin is one of 251 individual stocks in the Basic Materials sector. Collectively, these companies sit at #8 in 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 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. OLN is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for OLN's full-year earnings has moved 29.53% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that OLN has returned about 89.09% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 14.92%. As we can see, Olin is performing better than its sector in the calendar year.
Breaking things down more, OLN is a member of the Chemical - Diversified industry, which includes 41 individual companies and currently sits at #95 in the Zacks Industry Rank. This group has gained an average of 11.48% so far this year, so OLN is performing better in this area.
OLN will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.