Advertisement
UK markets closed

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • FTSE 250

    19,824.16
    +222.18 (+1.13%)
     

  • AIM

    755.28
    +2.16 (+0.29%)
     

  • GBP/EUR

    1.1679
    +0.0022 (+0.19%)
     

  • GBP/USD

    1.2494
    -0.0017 (-0.13%)
     

  • Bitcoin GBP

    50,483.77
    -999.93 (-1.94%)
     

  • CMC Crypto 200

    1,304.48
    -92.06 (-6.59%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • DOW

    38,239.66
    +153.86 (+0.40%)
     

  • CRUDE OIL

    83.66
    +0.09 (+0.11%)
     

  • GOLD FUTURES

    2,349.60
    +7.10 (+0.30%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     

  • DAX

    18,161.01
    +243.73 (+1.36%)
     

  • CAC 40

    8,088.24
    +71.59 (+0.89%)
     

Is Allegheny Technologies (ATI) Stock Outpacing Its Basic Materials Peers This Year?

Zacks Equity Research
Updated
Ross Stores (ROST) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Investors focused on the Basic Materials space have likely heard of Allegheny Technologies (ATI), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of ATI and the rest of the Basic Materials group's stocks.

Allegheny Technologies is one of 240 companies in the Basic Materials group. The Basic Materials group currently sits at #5 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 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. ATI is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for ATI's full-year earnings has moved 8.16% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

ADVERTISEMENT

Our latest available data shows that ATI has returned about 10.85% since the start of the calendar year. At the same time, Basic Materials stocks have lost an average of 3.85%. This shows that Allegheny Technologies is outperforming its peers so far this year.

Breaking things down more, ATI is a member of the Steel - Speciality industry, which includes 4 individual companies and currently sits at #111 in the Zacks Industry Rank. On average, stocks in this group have gained 11.82% this year, meaning that ATI is slightly underperforming its industry in terms of year-to-date returns.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to ATI as it looks to continue its solid performance.


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
 
Allegheny Technologies Incorporated (ATI) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.