Is Chemours (CC) Stock Outpacing Its Basic Materials Peers 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 Chemours (CC) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Chemours is one of 241 individual stocks in the Basic Materials sector. Collectively, these companies sit at #3 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Chemours is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, 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.

Based on the latest available data, CC has gained about 21.3% so far this year. In comparison, Basic Materials companies have returned an average of 0.6%. This means that Chemours 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 Cabot (CBT). The stock has returned 29.6% year-to-date.

For Cabot, the consensus EPS estimate for the current year has increased 5.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Chemours belongs to the Chemical - Diversified industry, which includes 38 individual stocks and currently sits at #57 in the Zacks Industry Rank. On average, stocks in this group have lost 6.6% this year, meaning that CC is performing better in terms of year-to-date returns. Cabot is also part of the same industry.

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

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.