Has Intrepid Potash (IPI) Outpaced 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 Intrepid Potash (IPI) been one of those stocks this year? 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.
Intrepid Potash is a member of our Basic Materials group, which includes 279 different companies and currently sits at #15 in the Zacks Sector Rank. 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 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. Intrepid Potash is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for IPI's full-year earnings has moved 14.8% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, IPI has returned 35.2% so far this year. In comparison, Basic Materials companies have returned an average of 15%. This shows that Intrepid Potash is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is Kronos Worldwide (KRO). The stock is up 81.2% year-to-date.
In Kronos Worldwide's case, the consensus EPS estimate for the current year increased 205.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Intrepid Potash belongs to the Fertilizers industry, which includes 6 individual stocks and currently sits at #107 in the Zacks Industry Rank. This group has gained an average of 26% so far this year, so IPI is performing better in this area.
On the other hand, Kronos Worldwide belongs to the Chemical - Diversified industry. This 31-stock industry is currently ranked #162. The industry has moved +12.2% year to date.
Investors with an interest in Basic Materials stocks should continue to track Intrepid Potash and Kronos Worldwide. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).
