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Has Haynes International (HAYN) Outpaced Other Basic Materials Stocks This Year?

·2 min read

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Haynes International (HAYN) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.

Haynes International is a member of our Basic Materials group, which includes 247 different companies and currently sits at #5 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. Haynes International is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for HAYN's full-year earnings has moved 53.3% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, HAYN has moved about 2.7% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 1.1%. This shows that Haynes International is outperforming its peers so far this year.

Another stock in the Basic Materials sector, Israel Chemicals (ICL), has outperformed the sector so far this year. The stock's year-to-date return is 7.9%.

For Israel Chemicals, the consensus EPS estimate for the current year has increased 20.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Haynes International belongs to the Steel - Speciality industry, a group that includes 4 individual companies and currently sits at #105 in the Zacks Industry Rank.


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