Yahoo Finance Is Novozymes (NVZMY) Stock Outpacing Its Basic Materials Peers This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Novozymes A/S (NVZMY) 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? 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.
Novozymes A/S is one of 236 individual stocks in the Basic Materials sector. Collectively, these companies sit at #15 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. Novozymes A/S is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NVZMY's full-year earnings has moved 3.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, NVZMY has returned 25% so far this year. Meanwhile, the Basic Materials sector has returned an average of -3.5% on a year-to-date basis. This means that Novozymes A/S is performing better than its sector in terms of year-to-date returns.
Vizsla Silver Corp. (VZLA) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 60%.
Over the past three months, Vizsla Silver Corp.'s consensus EPS estimate for the current year has increased 19.6%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Novozymes A/S belongs to the Chemical - Specialty industry, which includes 33 individual stocks and currently sits at #173 in the Zacks Industry Rank. Stocks in this group have lost about 16.6% so far this year, so NVZMY is performing better this group in terms of year-to-date returns.
Vizsla Silver Corp. however, belongs to the Mining - Silver industry. Currently, this 10-stock industry is ranked #32. The industry has moved +20.8% so far this year.
Investors with an interest in Basic Materials stocks should continue to track Novozymes A/S and Vizsla Silver Corp. These stocks will be looking to continue their solid performance.
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Novozymes A/S (NVZMY) : Free Stock Analysis Report
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