Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. NWPX Infrastructure (NWPX) 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.
NWPX Infrastructure is one of 241 individual stocks in the Basic Materials sector. Collectively, these companies sit at #14 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 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. NWPX Infrastructure is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NWPX's full-year earnings has moved 6.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, NWPX has gained about 24% so far this year. Meanwhile, the Basic Materials sector has returned an average of 23.2% on a year-to-date basis. This means that NWPX Infrastructure is outperforming the sector as a whole this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Orla Mining Ltd. (ORLA). The stock has returned 116.6% year-to-date.
In Orla Mining Ltd.'s case, the consensus EPS estimate for the current year increased 40.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, NWPX Infrastructure belongs to the Steel - Speciality industry, a group that includes 4 individual stocks and currently sits at #69 in the Zacks Industry Rank. On average, this group has gained an average of 62.5% so far this year, meaning that NWPX is slightly underperforming its industry in terms of year-to-date returns.
Orla Mining Ltd., however, belongs to the Mining - Gold industry. Currently, this 41-stock industry is ranked #31. The industry has moved +129% so far this year.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to NWPX Infrastructure and Orla Mining Ltd. as they could maintain their solid performance.
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NWPX Infrastructure, Inc. (NWPX): Free Stock Analysis Report Orla Mining Ltd. (ORLA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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