Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. 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? Let's take a closer look at the stock's year-to-date performance to find out.
Carpenter Technology is one of 232 companies in the Basic Materials group. The Basic Materials group currently sits at #6 within 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. Carpenter Technology is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CRS' full-year earnings has moved 4.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, CRS has moved about 38.5% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 6.5% on average. As we can see, Carpenter Technology is performing better than its sector in the calendar year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Aris Mining Corporation (ARMN). The stock has returned 86.6% year-to-date.
The consensus estimate for Aris Mining Corporation's current year EPS has increased 7.6% 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 5 individual stocks and currently sits at #55 in the Zacks Industry Rank. Stocks in this group have gained about 33.9% so far this year, so CRS is performing better this group in terms of year-to-date returns.
Aris Mining Corporation, however, belongs to the Mining - Gold industry. Currently, this 39-stock industry is ranked #17. The industry has moved +46.7% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on Carpenter Technology and Aris Mining Corporation as they attempt to continue their solid performance.
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Carpenter Technology Corporation (CRS): Free Stock Analysis Report Aris Mining Corporation (ARMN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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