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Is MGP Ingredients (MGPI) Stock Outpacing Its Consumer Staples Peers This Year?

For those looking to find strong Consumer Staples stocks, it is prudent to search for companies in the group that are outperforming their peers. Has MGP (MGPI) been one of those stocks this year? 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.

MGP is a member of our Consumer Staples group, which includes 201 different companies and currently sits at #6 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. MGP is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for MGPI's full-year earnings has moved 1.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, MGPI has returned 29.5% so far this year. Meanwhile, the Consumer Staples sector has returned an average of -7.5% on a year-to-date basis. This shows that MGP is outperforming its peers so far this year.

Another Consumer Staples stock, which has outperformed the sector so far this year, is Hostess Brands (TWNK). The stock has returned 37.5% year-to-date.

The consensus estimate for Hostess Brands' current year EPS has increased 1.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, MGP is a member of the Food - Miscellaneous industry, which includes 51 individual companies and currently sits at #135 in the Zacks Industry Rank. Stocks in this group have gained about 1.2% so far this year, so MGPI is performing better this group in terms of year-to-date returns.

On the other hand, Hostess Brands belongs to the Food - Confectionery industry. This 3-stock industry is currently ranked #19. The industry has moved +18.5% year to date.

Going forward, investors interested in Consumer Staples stocks should continue to pay close attention to MGP and Hostess Brands as they could maintain their solid performance.

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MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report
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