Investors focused on the Consumer Staples space have likely heard of The Simply Good Foods (SMPL), but is the stock performing well in comparison to the rest of its sector peers? 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.
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 #13. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. SMPL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SMPL's full-year earnings has moved 3.13% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, SMPL has gained about 46.77% so far this year. Meanwhile, stocks in the Consumer Staples group have gained about 19.79% on average. As we can see, The Simply Good Foods is performing better than its sector in the calendar year.
To break things down more, SMPL belongs to the Food - Confectionery industry, a group that includes 3 individual companies and currently sits at #39 in the Zacks Industry Rank. This group has gained an average of 29.79% so far this year, so SMPL is performing better in this area.
Investors in the Consumer Staples sector will want to keep a close eye on SMPL as it attempts to continue its solid performance.
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