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Is GrowGeneration (GRWG) Stock Outpacing Its Basic Materials Peers This Year?

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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has GrowGeneration (GRWG) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

GrowGeneration is a member of our Basic Materials group, which includes 239 different companies and currently sits at #6 in the Zacks Sector Rank. 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 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. GRWG is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for GRWG's full-year earnings has moved 20.89% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, GRWG has returned 20.24% so far this year. In comparison, Basic Materials companies have returned an average of 0.10%. This means that GrowGeneration is performing better than its sector in terms of year-to-date returns.

To break things down more, GRWG belongs to the Agriculture - Products industry, a group that includes 6 individual companies and currently sits at #129 in the Zacks Industry Rank. This group has gained an average of 2.60% so far this year, so GRWG is performing better in this area.

Investors in the Basic Materials sector will want to keep a close eye on GRWG as it attempts to continue its solid performance.


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