Is Carpenter Technology (CRS) Outperforming 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 Carpenter Technology (CRS) been one of those stocks this year? 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.
Carpenter Technology is one of 231 individual stocks in the Basic Materials sector. Collectively, these companies sit at #14 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 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. Carpenter Technology is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CRS' full-year earnings has moved 10.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CRS has returned 70.6% so far this year. Meanwhile, the Basic Materials sector has returned an average of -0.5% on a year-to-date basis. This means that Carpenter Technology is outperforming the sector as a whole this year.
One other Basic Materials stock that has outperformed the sector so far this year is Universal Stainless & Alloy Products (USAP). The stock is up 108.1% year-to-date.
The consensus estimate for Universal Stainless & Alloy Products' current year EPS has increased 15.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Carpenter Technology is a member of the Steel - Speciality industry, which includes 4 individual companies and currently sits at #37 in the Zacks Industry Rank. On average, this group has gained an average of 35.7% so far this year, meaning that CRS is performing better in terms of year-to-date returns.
On the other hand, Universal Stainless & Alloy Products belongs to the Steel - Producers industry. This 18-stock industry is currently ranked #146. The industry has moved +13.1% year to date.
Investors interested in the Basic Materials sector may want to keep a close eye on Carpenter Technology and Universal Stainless & Alloy Products as they attempt to continue their solid performance.
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Carpenter Technology Corporation (CRS) : Free Stock Analysis Report
Universal Stainless & Alloy Products, Inc. (USAP) : Free Stock Analysis Report
