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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. Carpenter Technology (CRS) 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.

Carpenter Technology is a member of the Basic Materials sector. This group includes 239 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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. Carpenter Technology is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CRS' full-year earnings has moved 21.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.


Our latest available data shows that CRS has returned about 17.7% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 2.5%. This shows that Carpenter Technology is outperforming its peers so far this year.

One other Basic Materials stock that has outperformed the sector so far this year is Acerinox (ANIOY). The stock is up 12.5% year-to-date.

The consensus estimate for Acerinox's current year EPS has increased 14.7% 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, which includes 4 individual stocks and currently sits at #184 in the Zacks Industry Rank. On average, this group has gained an average of 67.6% so far this year, meaning that CRS is slightly underperforming its industry in terms of year-to-date returns.

Acerinox, however, belongs to the Steel - Producers industry. Currently, this 22-stock industry is ranked #12. The industry has moved +13.8% so far this year.

Investors interested in the Basic Materials sector may want to keep a close eye on Carpenter Technology and Acerinox as they attempt to continue their solid performance.

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Zacks Investment Research