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Is AK Steel Holding (AKS) Stock Outpacing Its Basic Materials Peers This Year?

Zacks Equity Research

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is AK Steel Holding (AKS) 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.

AK Steel Holding is one of 247 individual stocks in the Basic Materials sector. Collectively, these companies sit at #12 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. AKS is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for AKS's full-year earnings has moved 12.44% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, AKS has gained about 24.44% so far this year. Meanwhile, the Basic Materials sector has returned an average of 10.92% on a year-to-date basis. This shows that AK Steel Holding is outperforming its peers so far this year.

To break things down more, AKS belongs to the Steel - Producers industry, a group that includes 28 individual companies and currently sits at #185 in the Zacks Industry Rank. On average, stocks in this group have lost 3.60% this year, meaning that AKS is performing better in terms of year-to-date returns.

Investors with an interest in Basic Materials stocks should continue to track AKS. The stock will be looking to continue its solid performance.

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Zacks Investment Research