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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. 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? 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 241 individual stocks in the Basic Materials sector. Collectively, these companies sit at #7 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 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).

Within the past quarter, the Zacks Consensus Estimate for CRS' full-year earnings has moved 9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.


Our latest available data shows that CRS has returned about 47.9% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have lost about 3.9% on average. This shows that Carpenter Technology is outperforming its peers so far this year.

Another stock in the Basic Materials sector, Harmony Gold (HMY), has outperformed the sector so far this year. The stock's year-to-date return is 34.6%.

The consensus estimate for Harmony Gold's current year EPS has increased 17.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Carpenter Technology belongs to the Steel - Speciality industry, a group that includes 6 individual stocks and currently sits at #28 in the Zacks Industry Rank. On average, stocks in this group have gained 25.3% this year, meaning that CRS is performing better in terms of year-to-date returns.

Harmony Gold, however, belongs to the Mining - Gold industry. Currently, this 40-stock industry is ranked #28. The industry has moved +6% so far this year.

Investors with an interest in Basic Materials stocks should continue to track Carpenter Technology and Harmony Gold. These stocks will be looking to continue their solid performance.

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Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

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Zacks Investment Research