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Is Chemours (CC) Outperforming Other Basic Materials Stocks This Year?

Zacks Equity Research
·2-min read

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Chemours (CC) 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.

Chemours is a member of the Basic Materials sector. This group includes 241 individual stocks and currently holds a Zacks Sector Rank of #4. 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. Chemours is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CC's full-year earnings has moved 15.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Based on the latest available data, CC has gained about 28.6% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 4.8% on average. As we can see, Chemours is performing better than its sector in the calendar year.

Another stock in the Basic Materials sector, Gerdau (GGB), has outperformed the sector so far this year. The stock's year-to-date return is 23.8%.

For Gerdau, the consensus EPS estimate for the current year has increased 60.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Chemours belongs to the Chemical - Diversified industry, which includes 38 individual stocks and currently sits at #67 in the Zacks Industry Rank. Stocks in this group have lost about 2.4% so far this year, so CC is performing better this group in terms of year-to-date returns.

On the other hand, Gerdau belongs to the Steel - Producers industry. This 24-stock industry is currently ranked #25. The industry has moved +21% year to date.

Investors interested in the Basic Materials sector may want to keep a close eye on Chemours and Gerdau as they attempt to continue their solid performance.


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Gerdau S.A. (GGB) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.