The Consumer Staples group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Grocery Outlet Holding Corp. (GO) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Grocery Outlet Holding Corp. is one of 184 companies in the Consumer Staples group. The Consumer Staples group currently sits at #16 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. Grocery Outlet Holding Corp. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for GO's full-year earnings has moved 10.5% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, GO has gained about 3.7% so far this year. In comparison, Consumer Staples companies have returned an average of 0.4%. As we can see, Grocery Outlet Holding Corp. is performing better than its sector in the calendar year.
One other Consumer Staples stock that has outperformed the sector so far this year is Service Corp. (SCI). The stock is up 4.2% year-to-date.
Over the past three months, Service Corp.'s consensus EPS estimate for the current year has increased 1.5%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Grocery Outlet Holding Corp. belongs to the Consumer Products - Staples industry, which includes 36 individual stocks and currently sits at #168 in the Zacks Industry Rank. Stocks in this group have lost about 8% so far this year, so GO is performing better this group in terms of year-to-date returns.
Service Corp., however, belongs to the Funeral Services industry. Currently, this 3-stock industry is ranked #3. The industry has moved +3.7% so far this year.
Grocery Outlet Holding Corp. and Service Corp. could continue their solid performance, so investors interested in Consumer Staples stocks should continue to pay close attention to these stocks.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Grocery Outlet Holding Corp. (GO): Free Stock Analysis Report Service Corporation International (SCI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
