For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Century Aluminum (CENX) 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.
Century Aluminum is a member of our Industrial Products group, which includes 189 different companies and currently sits at #4 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. Century Aluminum is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CENX's full-year earnings has moved 12.4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, CENX has moved about 24.3% on a year-to-date basis. Meanwhile, stocks in the Industrial Products group have gained about 5.6% on average. As we can see, Century Aluminum is performing better than its sector in the calendar year.
Another Industrial Products stock, which has outperformed the sector so far this year, is Hudson Technologies (HDSN). The stock has returned 75.3% year-to-date.
The consensus estimate for Hudson Technologies' current year EPS has increased 27.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Century Aluminum is a member of the Metal Products - Procurement and Fabrication industry, which includes 8 individual companies and currently sits at #38 in the Zacks Industry Rank. Stocks in this group have gained about 7.8% so far this year, so CENX is performing better this group in terms of year-to-date returns.
Hudson Technologies, however, belongs to the Industrial Services industry. Currently, this 18-stock industry is ranked #38. The industry has moved +3.9% so far this year.
Investors interested in the Industrial Products sector may want to keep a close eye on Century Aluminum and Hudson Technologies as they attempt to continue their solid performance.
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Century Aluminum Company (CENX): Free Stock Analysis Report Hudson Technologies, Inc. (HDSN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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