The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Aperam (APEMY) one of those stocks right now? 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.
Aperam is one of 248 companies in the Basic Materials group. The Basic Materials group currently sits at #6 within 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Aperam is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for APEMY's full-year earnings has moved 25.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that APEMY has returned about 41.9% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 9.8%. As we can see, Aperam is performing better than its sector in the calendar year.
Carpenter Technology (CRS) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 58.5%.
In Carpenter Technology's case, the consensus EPS estimate for the current year increased 2.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Aperam belongs to the Steel - Producers industry, which includes 17 individual stocks and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 40.9% so far this year, so APEMY is performing better in this area.
Carpenter Technology, however, belongs to the Steel - Speciality industry. Currently, this 6-stock industry is ranked #83. The industry has moved +50.9% so far this year.
Investors with an interest in Basic Materials stocks should continue to track Aperam and Carpenter Technology. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
