Is Alcoa (AA) Outperforming Other Industrial Products Stocks This Year?
For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Alcoa (AA) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Alcoa is a member of the Industrial Products sector. This group includes 218 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. AA is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for AA's full-year earnings has moved 113.37% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, AA has returned 73.06% so far this year. Meanwhile, the Industrial Products sector has returned an average of 16.84% on a year-to-date basis. This means that Alcoa is outperforming the sector as a whole this year.
To break things down more, AA belongs to the Metal Products - Distribution industry, a group that includes 6 individual companies and currently sits at #30 in the Zacks Industry Rank. Stocks in this group have gained about 44.60% so far this year, so AA is performing better this group in terms of year-to-date returns.
AA will likely be looking to continue its solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to the company.
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