The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Braskem (BAK) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Braskem is one of 248 companies in the Basic Materials group. The Basic Materials group currently sits at #14 within the Zacks Sector Rank. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Braskem is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for BAK's full-year earnings has moved 11.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BAK has moved about 22.4% on a year-to-date basis. At the same time, Basic Materials stocks have gained an average of 12.1%. This shows that Braskem is outperforming its peers so far this year.
Bunge Global (BG) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 41.8%.
The consensus estimate for Bunge Global's current year EPS has increased 0.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Braskem belongs to the Chemical - Specialty industry, a group that includes 44 individual stocks and currently sits at #179 in the Zacks Industry Rank. Stocks in this group have gained about 10.6% so far this year, so BAK is performing better this group in terms of year-to-date returns.
Bunge Global, however, belongs to the Agriculture - Products industry. Currently, this 3-stock industry is ranked #19. The industry has moved +28% so far this year.
Investors interested in the Basic Materials sector may want to keep a close eye on Braskem and Bunge Global as they attempt to continue their solid performance.
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Braskem S.A. (BAK): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).