For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Century Aluminum (CENX – Free Report) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.
Century Aluminum is one of 203 individual stocks in the Industrial Products sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Century Aluminum is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CENX’s full-year earnings has moved 785.7% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, CENX has moved about 50.1% on a year-to-date basis. In comparison, Industrial Products companies have returned an average of 8.6%. This means that Century Aluminum is performing better than its sector in terms of year-to-date returns.
Another Industrial Products stock, which has outperformed the sector so far this year, is Graham (GHM – Free Report) . The stock has returned 134.4% year-to-date.
In Graham’s case, the consensus EPS estimate for the current year increased 8.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Century Aluminum is a member of the Metal Products – Procurement and Fabrication industry, which includes 10 individual companies and currently sits at #87 in the Zacks Industry Rank. On average, this group has gained an average of 32.6% so far this year, meaning that CENX is performing better in terms of year-to-date returns.
Graham, however, belongs to the Manufacturing – General Industrial industry. Currently, this 41-stock industry is ranked #175. The industry has moved +8.2% so far this year.
Century Aluminum and Graham could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks.
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