Are Basic Materials Stocks Lagging Carpenter Technology (CRS) This Year?

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Carpenter Technology (CRS) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.Carpenter Technology is a member of the Basic Materials sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #15. 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 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. Carpenter Technology is currently sporting a Zacks Rank of #2 (Buy).Over the past three months, the Zacks Consensus Estimate for CRS' full-year earnings has moved 4.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Based on the most recent data, CRS has returned 42.2% so far this year. In comparison, Basic Materials companies have returned an average of 15.1%. This means that Carpenter Technology is performing better than its sector in terms of year-to-date returns.Another stock in the Basic Materials sector, Norsk Hydro ASA (NHYDY), has outperformed the sector so far this year. The stock's year-to-date return is 16.8%.In Norsk Hydro ASA's case, the consensus EPS estimate for the current year increased 32.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Carpenter Technology belongs to the Steel - Speciality industry, a group that includes 5 individual stocks and currently sits at #99 in the Zacks Industry Rank. On average, this group has gained an average of 32.1% so far this year, meaning that CRS is performing better in terms of year-to-date returns. Norsk Hydro ASA, however, belongs to the Mining - Miscellaneous industry. Currently, this 64-stock industry is ranked #146. The industry has moved +17.2% so far this year.Investors with an interest in Basic Materials stocks should continue to track Carpenter Technology and Norsk Hydro ASA. These stocks will be looking to continue their solid performance.One Big Gain, Every Trading DayTo help you take full advantage of this market, you’re invited to access every stock recommendation in all our private portfolios - for just $1.Zacks private portfolio services that closed 256 double and triple-digit winners in 2024 alone. That’s about one big gain every day the market was open. Of course, not all our picks are winners, but members have seen recent gains as high as +627% +1,340%, and +1,708%.Imagine how much you could profit with a steady stream of real-time picks from all our services that cover a number of strategies to suit a variety of investing and trading styles.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Norsk Hydro ASA (NHYDY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks