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Has Reliance, Inc. (RS) Outpaced Other Basic Materials Stocks 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. Is Reliance (RS - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Reliance is one of 240 companies in the Basic Materials group. The Basic Materials group currently sits at #6 within 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. Reliance is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for RS' full-year earnings has moved 1.8% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, RS has returned 9% so far this year. Meanwhile, stocks in the Basic Materials group have lost about 0.4% on average. This shows that Reliance is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is SilverCrest Metals Inc. (SILV - Free Report) . The stock is up 30.8% year-to-date.
In SilverCrest Metals Inc.'s case, the consensus EPS estimate for the current year increased 36.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Reliance belongs to the Mining - Miscellaneous industry, a group that includes 60 individual companies and currently sits at #189 in the Zacks Industry Rank. This group has lost an average of 6.1% so far this year, so RS is performing better in this area. SilverCrest Metals Inc. is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track Reliance and SilverCrest Metals Inc. These stocks will be looking to continue their solid performance.
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Has Reliance, Inc. (RS) Outpaced Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Reliance (RS - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Reliance is one of 240 companies in the Basic Materials group. The Basic Materials group currently sits at #6 within 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. Reliance is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for RS' full-year earnings has moved 1.8% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, RS has returned 9% so far this year. Meanwhile, stocks in the Basic Materials group have lost about 0.4% on average. This shows that Reliance is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is SilverCrest Metals Inc. (SILV - Free Report) . The stock is up 30.8% year-to-date.
In SilverCrest Metals Inc.'s case, the consensus EPS estimate for the current year increased 36.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Reliance belongs to the Mining - Miscellaneous industry, a group that includes 60 individual companies and currently sits at #189 in the Zacks Industry Rank. This group has lost an average of 6.1% so far this year, so RS is performing better in this area. SilverCrest Metals Inc. is also part of the same industry.
Investors with an interest in Basic Materials stocks should continue to track Reliance and SilverCrest Metals Inc. These stocks will be looking to continue their solid performance.