Is Carpenter Technology (CRS) Outperforming Other Basic Materials Stocks This Year?

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Carpenter Technology (CRS) one of those stocks right now? 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.Carpenter Technology is one of 234 companies in the Basic Materials group. The Basic Materials group currently sits at #10 within 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. Carpenter Technology is currently sporting a Zacks Rank of #2 (Buy).Within the past quarter, the Zacks Consensus Estimate for CRS' full-year earnings has moved 0.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.Based on the latest available data, CRS has gained about 14.1% so far this year. Meanwhile, stocks in the Basic Materials group have lost about 6.2% on average. This shows that Carpenter Technology is outperforming its peers so far this year.Another stock in the Basic Materials sector, Fortuna Mining (FSM), has outperformed the sector so far this year. The stock's year-to-date return is 17.7%.Over the past three months, Fortuna Mining's consensus EPS estimate for the current year has increased 32.6%. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Carpenter Technology belongs to the Steel - Speciality industry, which includes 5 individual stocks and currently sits at #26 in the Zacks Industry Rank. Stocks in this group have gained about 52.9% so far this year, so CRS is slightly underperforming its industry this group in terms of year-to-date returns.On the other hand, Fortuna Mining belongs to the Mining - Miscellaneous industry. This 60-stock industry is currently ranked #140. The industry has moved -18% year to date.Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Carpenter Technology and Fortuna Mining as they could maintain their solid performance.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 Fortuna Mining Corp. (FSM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks