Is Carpenter Technology (CRS) 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. Carpenter Technology (CRS) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Carpenter Technology is a member of the Basic Materials sector. This group includes 231 individual stocks and currently holds a Zacks Sector Rank of #15. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Carpenter Technology is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CRS' full-year earnings has moved 2.8% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CRS has gained about 84.1% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 5.3% on average. This means that Carpenter Technology is outperforming the sector as a whole this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Universal Stainless & Alloy Products (USAP). The stock has returned 105.7% 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 #2 (Buy).
Looking more specifically, Carpenter Technology belongs to the Steel - Speciality industry, a group that includes 4 individual stocks and currently sits at #44 in the Zacks Industry Rank. Stocks in this group have gained about 55.8% so far this year, so CRS is performing better this group 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 #143. The industry has moved +21.7% 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
