The Consumer Staples group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Beyond Meat (BYND) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Staples sector should help us answer this question.
Beyond Meat is a member of our Consumer Staples group, which includes 180 different companies and currently sits at #15 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. Beyond Meat is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BYND's full-year earnings has moved 77.3% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, BYND has gained about 8.6% so far this year. Meanwhile, stocks in the Consumer Staples group have lost about 3% on average. This shows that Beyond Meat is outperforming its peers so far this year.
Albertsons Companies, Inc. (ACI) is another Consumer Staples stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 0.5%.
In Albertsons Companies, Inc.'s case, the consensus EPS estimate for the current year increased 3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Beyond Meat belongs to the Food - Meat Products industry, a group that includes 5 individual stocks and currently sits at #63 in the Zacks Industry Rank. This group has lost an average of 35.6% so far this year, so BYND is performing better in this area.
On the other hand, Albertsons Companies, Inc. belongs to the Consumer Products - Staples industry. This 35-stock industry is currently ranked #213. The industry has moved -16% year to date.
Investors interested in the Consumer Staples sector may want to keep a close eye on Beyond Meat and Albertsons Companies, Inc. as they attempt to continue their solid performance.
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Beyond Meat, Inc. (BYND): Free Stock Analysis Report Albertsons Companies, Inc. (ACI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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