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Is Akzo Nobel (AKZOY) Outperforming Other Basic Materials Stocks 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. Has Akzo Nobel (AKZOY - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Akzo Nobel is a member of our Basic Materials group, which includes 240 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. AKZOY is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AKZOY's full-year earnings has moved 2.19% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, AKZOY has moved about 4.46% on a year-to-date basis. At the same time, Basic Materials stocks have lost an average of 2.93%. This shows that Akzo Nobel is outperforming its peers so far this year.
Breaking things down more, AKZOY is a member of the Chemical - Diversified industry, which includes 44 individual companies and currently sits at #84 in the Zacks Industry Rank. Stocks in this group have lost about 5.55% so far this year, so AKZOY is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to AKZOY as it looks to continue its solid performance.
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Is Akzo Nobel (AKZOY) Outperforming Other Basic Materials Stocks This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Akzo Nobel (AKZOY - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Akzo Nobel is a member of our Basic Materials group, which includes 240 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. AKZOY is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AKZOY's full-year earnings has moved 2.19% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, AKZOY has moved about 4.46% on a year-to-date basis. At the same time, Basic Materials stocks have lost an average of 2.93%. This shows that Akzo Nobel is outperforming its peers so far this year.
Breaking things down more, AKZOY is a member of the Chemical - Diversified industry, which includes 44 individual companies and currently sits at #84 in the Zacks Industry Rank. Stocks in this group have lost about 5.55% so far this year, so AKZOY is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to AKZOY as it looks to continue its solid performance.