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 Colgate-Palmolive (CL - 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.
Colgate-Palmolive is a member of our Consumer Staples group, which includes 176 different companies and currently sits at #8 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 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. CL is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CL's full-year earnings has moved 0.27% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that CL has returned about 20.13% since the start of the calendar year. In comparison, Consumer Staples companies have returned an average of 19.05%. This shows that Colgate-Palmolive is outperforming its peers so far this year.
To break things down more, CL belongs to the Soap and Cleaning Materials industry, a group that includes 8 individual companies and currently sits at #88 in the Zacks Industry Rank. On average, this group has gained an average of 25.63% so far this year, meaning that CL is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Consumer Staples stocks should continue to track CL. The stock will be looking to continue its solid performance.