Are Basic Materials Stocks Lagging GrowGeneration (GRWG) This Year?

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is GrowGeneration (GRWG) 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.GrowGeneration is one of 275 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 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. GrowGeneration is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for GRWG's full-year earnings has moved 14% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.According to our latest data, GRWG has moved about 18% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 15.2%. As we can see, GrowGeneration 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 Neo Performance Materials Inc. (NOPMF). The stock is up 134.3% year-to-date.Over the past three months, Neo Performance Materials Inc.'s consensus EPS estimate for the current year has increased 50.2%. The stock currently has a Zacks Rank #1 (Strong Buy).Looking more specifically, GrowGeneration belongs to the Agriculture - Products industry, a group that includes 3 individual stocks and currently sits at #49 in the Zacks Industry Rank. On average, stocks in this group have gained 19.9% this year, meaning that GRWG is slightly underperforming its industry in terms of year-to-date returns. In contrast, Neo Performance Materials Inc. falls under the Chemical - Specialty industry. Currently, this industry has 46 stocks and is ranked #99. Since the beginning of the year, the industry has moved +11.6%.GrowGeneration and Neo Performance Materials Inc. could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks. Zacks' Research Chief Names "Stock Most Likely to Double" Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest. This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment Research