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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? 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.
Grocery Outlet Holding is a member of the Consumer Staples sector. This group includes 176 individual stocks and currently holds a Zacks Sector Rank of #10. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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 #2 (Buy).
The Zacks Consensus Estimate for GO's full-year earnings has moved 6.14% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, GO has moved about 3.08% on a year-to-date basis. Meanwhile, stocks in the Consumer Staples group have lost about 24.87% on average. As we can see, Grocery Outlet Holding is performing better than its sector in the calendar year.
Looking more specifically, GO belongs to the Consumer Products - Staples industry, a group that includes 16 individual stocks and currently sits at #147 in the Zacks Industry Rank. On average, stocks in this group have lost 15.46% this year, meaning that GO is performing better in terms of year-to-date returns.
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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