For those looking to find strong Consumer Staples stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Grocery Outlet Holding Corp. (GO) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Consumer Staples peers, we might be able to answer that question.
Grocery Outlet Holding Corp. is a member of the Consumer Staples sector. This group includes 178 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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. Grocery Outlet Holding Corp. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for GO's full-year earnings has moved 8.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, GO has moved about 19.1% on a year-to-date basis. Meanwhile, the Consumer Staples sector has returned an average of 4.9% on a year-to-date basis. This shows that Grocery Outlet Holding Corp. is outperforming its peers so far this year.
Village Farms (VFF) is another Consumer Staples stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 278.7%.
In Village Farms' case, the consensus EPS estimate for the current year increased 300% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Grocery Outlet Holding Corp. belongs to the Consumer Products - Staples industry, a group that includes 35 individual stocks and currently sits at #180 in the Zacks Industry Rank. On average, stocks in this group have lost 4.5% this year, meaning that GO is performing better in terms of year-to-date returns. Village Farms is also part of the same industry.
Investors with an interest in Consumer Staples stocks should continue to track Grocery Outlet Holding Corp. and Village Farms. These stocks will be looking to continue their solid performance.
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Grocery Outlet Holding Corp. (GO): Free Stock Analysis Report Village Farms International, Inc. (VFF): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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