For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Chemours (CC - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 252 individual stocks and currently holds a Zacks Sector Rank of #7. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Chemours is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CC's full-year earnings has moved 10% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CC has returned 24.4% so far this year. At the same time, Basic Materials stocks have gained an average of 6.2%. This means that Chemours is outperforming the sector as a whole this year.
Nutrien (NTR - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 40.5%.
In Nutrien's case, the consensus EPS estimate for the current year increased 16.3% 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, a group that includes 41 individual stocks and currently sits at #96 in the Zacks Industry Rank. This group has gained an average of 15.4% so far this year, so CC is performing better in this area.
Nutrien, however, belongs to the Fertilizers industry. Currently, this 7-stock industry is ranked #6. The industry has moved +35.9% so far this year.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Chemours and Nutrien as they could maintain their solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Chemours (CC - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 252 individual stocks and currently holds a Zacks Sector Rank of #7. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Chemours is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CC's full-year earnings has moved 10% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CC has returned 24.4% so far this year. At the same time, Basic Materials stocks have gained an average of 6.2%. This means that Chemours is outperforming the sector as a whole this year.
Nutrien (NTR - Free Report) is another Basic Materials stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 40.5%.
In Nutrien's case, the consensus EPS estimate for the current year increased 16.3% 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, a group that includes 41 individual stocks and currently sits at #96 in the Zacks Industry Rank. This group has gained an average of 15.4% so far this year, so CC is performing better in this area.
Nutrien, however, belongs to the Fertilizers industry. Currently, this 7-stock industry is ranked #6. The industry has moved +35.9% so far this year.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to Chemours and Nutrien as they could maintain their solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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