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 Vita Coco Company, Inc. (COCO) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Vita Coco Company, Inc. is one of 185 individual stocks in the Consumer Staples sector. Collectively, these companies sit at #16 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Vita Coco Company, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for COCO's full-year earnings has moved 6.4% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, COCO has returned 45.7% so far this year. Meanwhile, the Consumer Staples sector has returned an average of -1.1% on a year-to-date basis. This means that Vita Coco Company, Inc. is outperforming the sector as a whole this year.
Ollie's Bargain Outlet (OLLI) is another Consumer Staples stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 7.8%.
Over the past three months, Ollie's Bargain Outlet's consensus EPS estimate for the current year has increased 0.1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Vita Coco Company, Inc. belongs to the Beverages - Soft drinks industry, a group that includes 18 individual stocks and currently sits at #161 in the Zacks Industry Rank. Stocks in this group have gained about 8.1% so far this year, so COCO is performing better this group in terms of year-to-date returns.
In contrast, Ollie's Bargain Outlet falls under the Consumer Products - Staples industry. Currently, this industry has 37 stocks and is ranked #182. Since the beginning of the year, the industry has moved -13.6%.
Investors interested in the Consumer Staples sector may want to keep a close eye on Vita Coco Company, Inc. and Ollie's Bargain Outlet as they attempt to continue their solid performance.
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Vita Coco Company, Inc. (COCO): Free Stock Analysis Report Ollie's Bargain Outlet Holdings, Inc. (OLLI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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