Yahoo Finance Is Avient (AVNT) Stock Outpacing Its Basic Materials Peers This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Avient (AVNT) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Avient is a member of the Basic Materials sector. This group includes 240 individual stocks and currently holds a Zacks Sector Rank of #7. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Avient is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AVNT's full-year earnings has moved 0.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, AVNT has returned 0.5% so far this year. Meanwhile, the Basic Materials sector has returned an average of -3.3% on a year-to-date basis. This means that Avient is outperforming the sector as a whole this year.
Another stock in the Basic Materials sector, Kronos Worldwide (KRO), has outperformed the sector so far this year. The stock's year-to-date return is 13.8%.
Over the past three months, Kronos Worldwide's consensus EPS estimate for the current year has increased 76.3%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Avient is a member of the Chemical - Diversified industry, which includes 29 individual companies and currently sits at #170 in the Zacks Industry Rank. Stocks in this group have lost about 5.8% so far this year, so AVNT is performing better this group in terms of year-to-date returns. Kronos Worldwide is also part of the same industry.
Investors interested in the Basic Materials sector may want to keep a close eye on Avient and Kronos Worldwide as they attempt to continue their solid performance.
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Avient Corporation (AVNT) : Free Stock Analysis Report
Kronos Worldwide Inc (KRO) : Free Stock Analysis Report
