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Is Carpenter Technology (CRS) Stock Outpacing Its Basic Materials Peers 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 Carpenter Technology (CRS - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Carpenter Technology is one of 239 individual stocks in the Basic Materials sector. Collectively, these companies sit at #16 in the Zacks Sector Rank. 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 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. Carpenter Technology is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CRS' full-year earnings has moved 18.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CRS has returned about 69.5% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 5.8% on average. This means that Carpenter Technology is outperforming the sector as a whole this year.
Denison Mine (DNN - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 21.7%.
Over the past three months, Denison Mine's consensus EPS estimate for the current year has increased 33.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Carpenter Technology is a member of the Steel - Speciality industry, which includes 4 individual companies and currently sits at #31 in the Zacks Industry Rank. On average, stocks in this group have gained 51.9% this year, meaning that CRS is performing better in terms of year-to-date returns.
On the other hand, Denison Mine belongs to the Mining - Miscellaneous industry. This 52-stock industry is currently ranked #176. The industry has moved -4.1% year to date.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Carpenter Technology and Denison Mine as they could maintain their solid performance.
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Is Carpenter Technology (CRS) Stock Outpacing Its Basic Materials Peers 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 Carpenter Technology (CRS - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Carpenter Technology is one of 239 individual stocks in the Basic Materials sector. Collectively, these companies sit at #16 in the Zacks Sector Rank. 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 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. Carpenter Technology is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CRS' full-year earnings has moved 18.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CRS has returned about 69.5% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 5.8% on average. This means that Carpenter Technology is outperforming the sector as a whole this year.
Denison Mine (DNN - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 21.7%.
Over the past three months, Denison Mine's consensus EPS estimate for the current year has increased 33.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Carpenter Technology is a member of the Steel - Speciality industry, which includes 4 individual companies and currently sits at #31 in the Zacks Industry Rank. On average, stocks in this group have gained 51.9% this year, meaning that CRS is performing better in terms of year-to-date returns.
On the other hand, Denison Mine belongs to the Mining - Miscellaneous industry. This 52-stock industry is currently ranked #176. The industry has moved -4.1% year to date.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Carpenter Technology and Denison Mine as they could maintain their solid performance.