Investors focused on the Consumer Staples space have likely heard of Grocery Outlet Holding (GO), but is the stock performing well in comparison to the rest of its sector peers? 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.
Grocery Outlet Holding is a member of our Consumer Staples group, which includes 176 different companies and currently sits at #7 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. GO is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for GO's full-year earnings has moved 10.86% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that GO has returned about 6.56% since the start of the calendar year. Meanwhile, the Consumer Staples sector has returned an average of -13.33% on a year-to-date basis. This means that Grocery Outlet Holding is performing better than its sector in terms of year-to-date returns.
Looking more specifically, GO belongs to the Consumer Products - Staples industry, a group that includes 16 individual stocks and currently sits at #53 in the Zacks Industry Rank. This group has gained an average of 4.20% so far this year, so GO is performing better in this area.
Investors in the Consumer Staples sector will want to keep a close eye on GO as it attempts to continue its solid performance.
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