Is Aperam (APEMY) Stock Outpacing Its Basic Materials Peers This Year?
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? Let's take a closer look at the stock's year-to-date performance to find out.
Aperam is one of 238 companies in the Basic Materials group. The Basic Materials group currently sits at #9 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 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. Aperam is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for APEMY's full-year earnings has moved 12.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, APEMY has moved about 25.8% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 4.8% on average. This shows that Aperam is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is Allegheny Technologies (ATI). The stock is up 36% year-to-date.
Over the past three months, Allegheny Technologies' consensus EPS estimate for the current year has increased 5.5%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Aperam is a member of the Steel - Producers industry, which includes 22 individual companies and currently sits at #20 in the Zacks Industry Rank. Stocks in this group have gained about 18.9% so far this year, so APEMY is performing better this group in terms of year-to-date returns.
On the other hand, Allegheny Technologies belongs to the Steel - Speciality industry. This 4-stock industry is currently ranked #10. The industry has moved +32.4% year to date.
Aperam and Allegheny Technologies could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
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