Has SunOpta (STKL) Outpaced Other Consumer Staples Stocks This Year?
Investors focused on the Consumer Staples space have likely heard of SunOpta (STKL), 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.
SunOpta is one of 175 individual stocks in the Consumer Staples sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. STKL is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for STKL's full-year earnings has moved 71.43% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, STKL has returned 298% so far this year. Meanwhile, the Consumer Staples sector has returned an average of 0.75% on a year-to-date basis. As we can see, SunOpta is performing better than its sector in the calendar year.
Looking more specifically, STKL belongs to the Food - Miscellaneous industry, a group that includes 44 individual stocks and currently sits at #193 in the Zacks Industry Rank. This group has gained an average of 1.08% so far this year, so STKL is performing better in this area.
Investors in the Consumer Staples sector will want to keep a close eye on STKL as it attempts to continue its solid performance.
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