Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Albemarle (ALB) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Albemarle is a member of the Basic Materials sector. This group includes 255 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Albemarle is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ALB's full-year earnings has moved 734.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ALB has returned 19.9% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 17.2% on average. This means that Albemarle is performing better than its sector in terms of year-to-date returns.
Another stock in the Basic Materials sector, NWPX Infrastructure (NWPX), has outperformed the sector so far this year. The stock's year-to-date return is 19.4%.
In NWPX Infrastructure's case, the consensus EPS estimate for the current year increased 11.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Albemarle belongs to the Chemical - Diversified industry, a group that includes 29 individual companies and currently sits at #195 in the Zacks Industry Rank. On average, stocks in this group have gained 21.6% this year, meaning that ALB is slightly underperforming its industry in terms of year-to-date returns.
NWPX Infrastructure, however, belongs to the Steel - Speciality industry. Currently, this 6-stock industry is ranked #67. The industry has moved +22% so far this year.
Investors with an interest in Basic Materials stocks should continue to track Albemarle and NWPX Infrastructure. These stocks will be looking to continue their solid performance.
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Albemarle Corporation (ALB): Free Stock Analysis Report NWPX Infrastructure, Inc. (NWPX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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