Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Bunge Global (BG) 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.
Bunge Global is a member of our Basic Materials group, which includes 275 different companies and currently sits at #15 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. Bunge Global is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BG's full-year earnings has moved 1.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, BG has gained about 29.6% so far this year. Meanwhile, the Basic Materials sector has returned an average of 21.8% on a year-to-date basis. This means that Bunge Global is performing better than its sector in terms of year-to-date returns.
One other Basic Materials stock that has outperformed the sector so far this year is Carpenter Technology (CRS). The stock is up 51.3% year-to-date.
For Carpenter Technology, the consensus EPS estimate for the current year has increased 6.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bunge Global belongs to the Agriculture - Products industry, a group that includes 3 individual stocks and currently sits at #51 in the Zacks Industry Rank. On average, this group has gained an average of 20.9% so far this year, meaning that BG is performing better in terms of year-to-date returns.
On the other hand, Carpenter Technology belongs to the Steel - Speciality industry. This 6-stock industry is currently ranked #25. The industry has moved +44% year to date.
Investors with an interest in Basic Materials stocks should continue to track Bunge Global and Carpenter Technology. These stocks will be looking to continue their solid performance.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners UpWant 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
Bunge Global SA (BG): Free Stock Analysis Report
Carpenter Technology Corporation (CRS): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).