Is Arconic (ARNC) Stock Outpacing Its Basic Materials Peers This Year?
Investors focused on the Basic Materials space have likely heard of Arconic (ARNC), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Arconic is a member of the Basic Materials sector. This group includes 248 individual stocks and currently holds a Zacks Sector Rank of #11. 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. ARNC is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ARNC's full-year earnings has moved 12.92% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ARNC has moved about 49.47% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 4.93%. This means that Arconic is outperforming the sector as a whole this year.
Looking more specifically, ARNC belongs to the Mining - Non Ferrous industry, which includes 11 individual stocks and currently sits at #172 in the Zacks Industry Rank. Stocks in this group have gained about 7.75% so far this year, so ARNC is performing better this group in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on ARNC as it attempts to continue its solid performance.
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