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 MEDIFAST INC (MED - Free Report) 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.
MEDIFAST INC is a member of the Consumer Staples sector. This group includes 174 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. MED is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for MED's full-year earnings has moved 17.69% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, MED has returned 55.72% so far this year. At the same time, Consumer Staples stocks have lost an average of 3.79%. This means that MEDIFAST INC is performing better than its sector in terms of year-to-date returns.
To break things down more, MED belongs to the Food - Miscellaneous industry, a group that includes 41 individual companies and currently sits at #125 in the Zacks Industry Rank. This group has lost an average of 0.50% so far this year, so MED is performing better in this area.
Going forward, investors interested in Consumer Staples stocks should continue to pay close attention to MED as it looks to continue its solid performance.