Yahoo Finance Are Basic Materials Stocks Lagging Perimeter Solutions, SA (PRM) This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Perimeter Solutions, SA (PRM) 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? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Perimeter Solutions, SA is a member of our Basic Materials group, which includes 240 different companies and currently sits at #5 in 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 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. Perimeter Solutions, SA is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PRM's full-year earnings has moved 17.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that PRM has returned about 75% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 0.8%. This shows that Perimeter Solutions, SA is outperforming its peers so far this year.
Iamgold (IAG) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 77.1%.
In Iamgold's case, the consensus EPS estimate for the current year increased 156.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Perimeter Solutions, SA belongs to the Chemical - Specialty industry, which includes 33 individual stocks and currently sits at #153 in the Zacks Industry Rank. On average, this group has lost an average of 20.1% so far this year, meaning that PRM is performing better in terms of year-to-date returns.
On the other hand, Iamgold belongs to the Mining - Gold industry. This 39-stock industry is currently ranked #31. The industry has moved +15.9% year to date.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Perimeter Solutions, SA and Iamgold as they could maintain their solid performance.
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