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Has Cabot (CBT) 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 Cabot (CBT - 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.
Cabot is a member of our Basic Materials group, which includes 241 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Cabot is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CBT's full-year earnings has moved 3.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CBT has returned 19.9% so far this year. Meanwhile, the Basic Materials sector has returned an average of -3.3% on a year-to-date basis. This means that Cabot is performing better than its sector in terms of year-to-date returns.
Another Basic Materials stock, which has outperformed the sector so far this year, is AngloGold Ashanti (AU - Free Report) . The stock has returned 24.7% year-to-date.
The consensus estimate for AngloGold Ashanti's current year EPS has increased 46.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Cabot is a member of the Chemical - Diversified industry, which includes 29 individual companies and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have gained about 1.2% so far this year, so CBT is performing better this group in terms of year-to-date returns.
AngloGold Ashanti, however, belongs to the Mining - Gold industry. Currently, this 40-stock industry is ranked #27. The industry has moved +9.6% so far this year.
Cabot and AngloGold Ashanti could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.