Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Flexible Solutions International Inc. (FSI) one of those stocks right now? 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.
Flexible Solutions International Inc. is one of 232 companies in the Basic Materials group. The Basic Materials group currently sits at #15 within 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 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. Flexible Solutions International Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for FSI's full-year earnings has moved 12.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that FSI has returned about 64.8% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 7.1% on average. This means that Flexible Solutions International Inc. is outperforming the sector as a whole this year.
NioCorp Developments Ltd. (NB) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 43.9%.
In NioCorp Developments Ltd.'s case, the consensus EPS estimate for the current year increased 15% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Flexible Solutions International Inc. belongs to the Chemical - Specialty industry, a group that includes 33 individual companies and currently sits at #201 in the Zacks Industry Rank. On average, stocks in this group have gained 5% this year, meaning that FSI is performing better in terms of year-to-date returns.
In contrast, NioCorp Developments Ltd. falls under the Mining - Miscellaneous industry. Currently, this industry has 59 stocks and is ranked #181. Since the beginning of the year, the industry has moved +7%.
Investors with an interest in Basic Materials stocks should continue to track Flexible Solutions International Inc. and NioCorp Developments Ltd. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).
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