Are Basic Materials Stocks Lagging CalMaine Foods (CALM) This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Cal-Maine Foods (CALM) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Cal-Maine Foods is a member of our Basic Materials group, which includes 240 different companies and currently sits at #13 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Cal-Maine Foods is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CALM's full-year earnings has moved 106.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CALM has moved about 3% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 1.9%. This shows that Cal-Maine Foods is outperforming its peers so far this year.
One other Basic Materials stock that has outperformed the sector so far this year is United States Steel (X). The stock is up 8.6% year-to-date.
Over the past three months, United States Steel's consensus EPS estimate for the current year has increased 84.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cal-Maine Foods belongs to the Agriculture - Products industry, a group that includes 7 individual stocks and currently sits at #108 in the Zacks Industry Rank. On average, this group has lost an average of 2.5% so far this year, meaning that CALM is performing better in terms of year-to-date returns.
United States Steel, however, belongs to the Steel - Producers industry. Currently, this 22-stock industry is ranked #30. The industry has moved +20.2% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on Cal-Maine Foods and United States Steel as they attempt to continue their solid performance.
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Cal-Maine Foods, Inc. (CALM) : Free Stock Analysis Report
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