Is Carpenter Technology (CRS) Stock Outpacing Its Basic Materials Peers This Year?

Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Carpenter Technology (CRS) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.Carpenter Technology is one of 232 individual stocks in the Basic Materials sector. Collectively, these companies sit at #8 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Carpenter Technology is currently sporting a Zacks Rank of #1 (Strong Buy).Over the past 90 days, the Zacks Consensus Estimate for CRS' full-year earnings has moved 6.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Based on the most recent data, CRS has returned 35.8% so far this year. Meanwhile, the Basic Materials sector has returned an average of 5.5% on a year-to-date basis. As we can see, Carpenter Technology is performing better than its sector in the calendar year.One other Basic Materials stock that has outperformed the sector so far this year is Aris Mining Corporation (ARMN). The stock is up 63.7% year-to-date.The consensus estimate for Aris Mining Corporation's current year EPS has increased 7.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).Looking more specifically, Carpenter Technology belongs to the Steel - Speciality industry, which includes 5 individual stocks and currently sits at #172 in the Zacks Industry Rank. On average, this group has gained an average of 29.9% so far this year, meaning that CRS is performing better in terms of year-to-date returns.Aris Mining Corporation, however, belongs to the Mining - Gold industry. Currently, this 39-stock industry is ranked #35. The industry has moved +36.3% so far this year.Carpenter Technology and Aris Mining Corporation could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want 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 Carpenter Technology Corporation (CRS): Free Stock Analysis Report Aris Mining Corporation (ARMN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks