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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? 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.
Carpenter Technology is a member of our Basic Materials group, which includes 236 different companies and currently sits at #15 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics 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 18.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CRS has gained about 89.4% so far this year. Meanwhile, the Basic Materials sector has returned an average of -6% on a year-to-date basis. As we can see, Carpenter Technology is performing better than its sector in the calendar year.
Iamgold (IAG - 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 92.1%.
Over the past three months, Iamgold's consensus EPS estimate for the current year has increased 39.5%. 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 #194 in the Zacks Industry Rank. This group has gained an average of 38.9% so far this year, so CRS is performing better in this area.
Iamgold, however, belongs to the Mining - Gold industry. Currently, this 37-stock industry is ranked #87. The industry has moved +22.1% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on Carpenter Technology and Iamgold as they attempt 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? 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.
Carpenter Technology is a member of our Basic Materials group, which includes 236 different companies and currently sits at #15 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics 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 18.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CRS has gained about 89.4% so far this year. Meanwhile, the Basic Materials sector has returned an average of -6% on a year-to-date basis. As we can see, Carpenter Technology is performing better than its sector in the calendar year.
Iamgold (IAG - 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 92.1%.
Over the past three months, Iamgold's consensus EPS estimate for the current year has increased 39.5%. 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 #194 in the Zacks Industry Rank. This group has gained an average of 38.9% so far this year, so CRS is performing better in this area.
Iamgold, however, belongs to the Mining - Gold industry. Currently, this 37-stock industry is ranked #87. The industry has moved +22.1% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on Carpenter Technology and Iamgold as they attempt to continue their solid performance.