The Consumer Staples group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has The Simply Good Foods (SMPL - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
The Simply Good Foods is a member of the Consumer Staples sector. This group includes 176 individual stocks and currently holds a Zacks Sector Rank of #5. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SMPL is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SMPL's full-year earnings has moved 8.33% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, SMPL has gained about 40.37% so far this year. Meanwhile, the Consumer Staples sector has returned an average of 18.85% on a year-to-date basis. This means that The Simply Good Foods is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SMPL belongs to the Food - Confectionery industry, a group that includes 3 individual stocks and currently sits at #16 in the Zacks Industry Rank. On average, stocks in this group have gained 41.50% this year, meaning that SMPL is slightly underperforming its industry in terms of year-to-date returns.
SMPL will likely be looking to continue its solid performance, so investors interested in Consumer Staples stocks should continue to pay close attention to the company.