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Are Basic Materials Stocks Lagging Carpenter Technology (CRS) 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. Carpenter Technology (CRS - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Carpenter Technology is a member of the Basic Materials sector. This group includes 236 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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 14.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CRS has gained about 103.3% so far this year. In comparison, Basic Materials companies have returned an average of -3.8%. This shows that Carpenter Technology is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Iamgold (IAG - Free Report) . The stock has returned 61.3% year-to-date.
For Iamgold, the consensus EPS estimate for the current year has increased 140.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Carpenter Technology belongs to the Steel - Speciality industry, a group that includes 6 individual companies and currently sits at #71 in the Zacks Industry Rank. On average, stocks in this group have gained 52.9% this year, meaning that CRS is performing better in terms of year-to-date returns.
In contrast, Iamgold falls under the Mining - Gold industry. Currently, this industry has 37 stocks and is ranked #55. Since the beginning of the year, the industry has moved +21.6%.
Investors with an interest in Basic Materials stocks should continue to track Carpenter Technology and Iamgold. These stocks will be looking to continue their solid performance.
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Are Basic Materials Stocks Lagging Carpenter Technology (CRS) 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. Carpenter Technology (CRS - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Carpenter Technology is a member of the Basic Materials sector. This group includes 236 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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 14.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CRS has gained about 103.3% so far this year. In comparison, Basic Materials companies have returned an average of -3.8%. This shows that Carpenter Technology is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Iamgold (IAG - Free Report) . The stock has returned 61.3% year-to-date.
For Iamgold, the consensus EPS estimate for the current year has increased 140.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Carpenter Technology belongs to the Steel - Speciality industry, a group that includes 6 individual companies and currently sits at #71 in the Zacks Industry Rank. On average, stocks in this group have gained 52.9% this year, meaning that CRS is performing better in terms of year-to-date returns.
In contrast, Iamgold falls under the Mining - Gold industry. Currently, this industry has 37 stocks and is ranked #55. Since the beginning of the year, the industry has moved +21.6%.
Investors with an interest in Basic Materials stocks should continue to track Carpenter Technology and Iamgold. These stocks will be looking to continue their solid performance.