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Has Daqo New Energy (DQ) Outpaced Other Basic Materials Stocks This Year?
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For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Daqo New Energy (DQ - Free Report) been one of those stocks this year? 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.
Daqo New Energy is a member of the Basic Materials sector. This group includes 242 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Daqo New Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DQ's full-year earnings has moved 16.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DQ has moved about 11.4% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 10.2%. This means that Daqo New Energy is outperforming the sector as a whole this year.
One other Basic Materials stock that has outperformed the sector so far this year is Ryerson Holding (RYI - Free Report) . The stock is up 38.1% year-to-date.
The consensus estimate for Ryerson Holding's current year EPS has increased 245.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Daqo New Energy is a member of the Chemical - Specialty industry, which includes 35 individual companies and currently sits at #153 in the Zacks Industry Rank. On average, stocks in this group have lost 16.5% this year, meaning that DQ is performing better in terms of year-to-date returns.
On the other hand, Ryerson Holding belongs to the Steel - Producers industry. This 23-stock industry is currently ranked #38. The industry has moved +13% year to date.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Daqo New Energy and Ryerson Holding as they could maintain their solid performance.
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Has Daqo New Energy (DQ) Outpaced Other Basic Materials Stocks This Year?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Daqo New Energy (DQ - Free Report) been one of those stocks this year? 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.
Daqo New Energy is a member of the Basic Materials sector. This group includes 242 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Daqo New Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DQ's full-year earnings has moved 16.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DQ has moved about 11.4% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 10.2%. This means that Daqo New Energy is outperforming the sector as a whole this year.
One other Basic Materials stock that has outperformed the sector so far this year is Ryerson Holding (RYI - Free Report) . The stock is up 38.1% year-to-date.
The consensus estimate for Ryerson Holding's current year EPS has increased 245.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Daqo New Energy is a member of the Chemical - Specialty industry, which includes 35 individual companies and currently sits at #153 in the Zacks Industry Rank. On average, stocks in this group have lost 16.5% this year, meaning that DQ is performing better in terms of year-to-date returns.
On the other hand, Ryerson Holding belongs to the Steel - Producers industry. This 23-stock industry is currently ranked #38. The industry has moved +13% year to date.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Daqo New Energy and Ryerson Holding as they could maintain their solid performance.