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Is Olympic Steel (ZEUS) Stock Outpacing Its Basic Materials Peers This Year?

Investors focused on the Basic Materials space have likely heard of Olympic Steel (ZEUS), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

Olympic Steel is a member of the Basic Materials sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #5. 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. ZEUS is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for ZEUS's full-year earnings has moved 125.81% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, ZEUS has returned 120.71% so far this year. In comparison, Basic Materials companies have returned an average of 16.40%. This shows that Olympic Steel is outperforming its peers so far this year.

To break things down more, ZEUS belongs to the Steel - Producers industry, a group that includes 24 individual companies and currently sits at #13 in the Zacks Industry Rank. Stocks in this group have gained about 43.48% so far this year, so ZEUS is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Basic Materials stocks should continue to pay close attention to ZEUS as it looks to continue its solid performance.


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Olympic Steel, Inc. (ZEUS): Free Stock Analysis Report
 
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