Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Arconic 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Arconic is one of 237 individual stocks in the Basic Materials sector. Collectively, these companies sit at #15 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. ARNC is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ARNC's full-year earnings has moved 9.62% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ARNC has gained about 40.51% so far this year. Meanwhile, the Basic Materials sector has returned an average of 10.48% on a year-to-date basis. This shows that Arconic is outperforming its peers so far this year.
Looking more specifically, ARNC belongs to the Mining - Non Ferrous industry, which includes 10 individual stocks and currently sits at #182 in the Zacks Industry Rank. On average, this group has gained an average of 22.33% so far this year, meaning that ARNC is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to ARNC as it looks to continue its solid performance.
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Is Arconic (ARNC) Stock Outpacing Its Basic Materials Peers This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Arconic 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Arconic is one of 237 individual stocks in the Basic Materials sector. Collectively, these companies sit at #15 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. ARNC is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ARNC's full-year earnings has moved 9.62% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ARNC has gained about 40.51% so far this year. Meanwhile, the Basic Materials sector has returned an average of 10.48% on a year-to-date basis. This shows that Arconic is outperforming its peers so far this year.
Looking more specifically, ARNC belongs to the Mining - Non Ferrous industry, which includes 10 individual stocks and currently sits at #182 in the Zacks Industry Rank. On average, this group has gained an average of 22.33% so far this year, meaning that ARNC is performing better in terms of year-to-date returns.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to ARNC as it looks to continue its solid performance.