For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Century Aluminum (CENX) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Century Aluminum is a member of the Industrial Products sector. This group includes 189 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Century Aluminum is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CENX's full-year earnings has moved 15.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CENX has gained about 19.3% so far this year. In comparison, Industrial Products companies have returned an average of 5.4%. This shows that Century Aluminum is outperforming its peers so far this year.
Another stock in the Industrial Products sector, Constellium (CSTM), has outperformed the sector so far this year. The stock's year-to-date return is 33.7%.
In Constellium's case, the consensus EPS estimate for the current year increased 7.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Century Aluminum belongs to the Metal Products - Procurement and Fabrication industry, a group that includes 8 individual companies and currently sits at #9 in the Zacks Industry Rank. This group has gained an average of 10.2% so far this year, so CENX is performing better in this area.
In contrast, Constellium falls under the Metal Products - Distribution industry. Currently, this industry has 4 stocks and is ranked #33. Since the beginning of the year, the industry has moved -8.7%.
Investors interested in the Industrial Products sector may want to keep a close eye on Century Aluminum and Constellium as they attempt to continue their solid performance.
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Century Aluminum Company (CENX): Free Stock Analysis Report Constellium SE (CSTM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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