For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Century Aluminum (CENX) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Century Aluminum is a member of our Industrial Products group, which includes 179 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Century Aluminum is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CENX's full-year earnings has moved 42.1% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CENX has gained about 23.5% so far this year. Meanwhile, stocks in the Industrial Products group have gained about 7.5% on average. As we can see, Century Aluminum is performing better than its sector in the calendar year.
One other Industrial Products stock that has outperformed the sector so far this year is Constellium (CSTM). The stock is up 27.1% year-to-date.
Over the past three months, Constellium's consensus EPS estimate for the current year has increased 20.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Century Aluminum belongs to the Metal Products - Procurement and Fabrication industry, a group that includes 6 individual companies and currently sits at #205 in the Zacks Industry Rank. Stocks in this group have lost about 3.9% so far this year, so CENX is performing better this group in terms of year-to-date returns.
In contrast, Constellium falls under the Metal Products - Distribution industry. Currently, this industry has 3 stocks and is ranked #18. Since the beginning of the year, the industry has moved +10%.
Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Century Aluminum and Constellium as they could maintain their solid performance.
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Century Aluminum Company (CENX): Free Stock Analysis Report
Constellium SE (CSTM): Free Stock Analysis Report