Is Intrepid Potash (IPI) 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. Is Intrepid Potash (IPI) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Intrepid Potash is a member of our Basic Materials group, which includes 275 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.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. Intrepid Potash is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for IPI's full-year earnings has moved 42.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.Our latest available data shows that IPI has returned about 20.8% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 7.6%. This means that Intrepid Potash is performing better than its sector in terms of year-to-date returns.Another Basic Materials stock, which has outperformed the sector so far this year, is Neo Performance Materials Inc. (NOPMF). The stock has returned 130.4% year-to-date.For Neo Performance Materials Inc., the consensus EPS estimate for the current year has increased 36.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, Intrepid Potash is a member of the Fertilizers industry, which includes 6 individual companies and currently sits at #177 in the Zacks Industry Rank. This group has gained an average of 6.9% so far this year, so IPI is performing better in this area. Neo Performance Materials Inc., however, belongs to the Chemical - Specialty industry. Currently, this 46-stock industry is ranked #79. The industry has moved +16.1% so far this year.Investors interested in the Basic Materials sector may want to keep a close eye on Intrepid Potash and Neo Performance Materials Inc. as they attempt to continue their solid performance.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks