Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Albemarle (ALB) been one of those stocks this year? 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.
Albemarle is one of 239 individual stocks in the Basic Materials sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Albemarle is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALB's full-year earnings has moved 54.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ALB has returned 16.7% so far this year. Meanwhile, the Basic Materials sector has returned an average of -10% on a year-to-date basis. This means that Albemarle is outperforming the sector as a whole this year.
Another stock in the Basic Materials sector, Haynes International (HAYN), has outperformed the sector so far this year. The stock's year-to-date return is 3.3%.
Over the past three months, Haynes International's consensus EPS estimate for the current year has increased 28.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Albemarle belongs to the Chemical - Diversified industry, a group that includes 35 individual stocks and currently sits at #134 in the Zacks Industry Rank. On average, this group has lost an average of 10.5% so far this year, meaning that ALB is performing better in terms of year-to-date returns.
Haynes International, however, belongs to the Steel - Speciality industry. Currently, this 4-stock industry is ranked #1. The industry has moved +48.9% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on Albemarle and Haynes International as they attempt to continue their solid performance.
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