When looking for strong Consumer Staples stocks, it’s important to find companies that are outperforming their peers. One such stock is e.l.f. Beauty (ELF), which has been showing promising returns compared to the sector as a whole.
e.l.f. Beauty is one of 193 individual stocks in the Consumer Staples sector, currently ranked #14 in the Zacks Sector Rank. The Zacks Rank system emphasizes earnings estimates and estimate revisions to identify stocks with improving earnings outlooks. e.l.f. Beauty currently holds a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ELF’s full-year earnings has increased by 7%, indicating stronger analyst sentiment and an improving earnings outlook. Year-to-date, ELF has gained about 7.3%, while the average Consumer Staples stocks have lost 6.7%, showing that e.l.f. Beauty is outperforming its peers.
Another notable stock in the Consumer Staples sector is Boston Beer (SAM), which has also shown strong performance this year with a 3.4% year-to-date return. The consensus EPS estimate for Boston Beer has increased by 6.8% over the past three months, earning it a Zacks Rank of #1 (Strong Buy).
e.l.f. Beauty belongs to the Cosmetics industry, which includes 14 individual stocks and currently sits at #172 in the Zacks Industry Rank. Stocks in this group have lost about 30.3% so far this year, making ELF’s performance comparatively better in terms of year-to-date returns.
On the other hand, Boston Beer belongs to the Beverages – Alcohol industry, which is currently ranked #75. The industry has moved -5.6% so far this year.
Investors interested in Consumer Staples stocks should keep an eye on e.l.f. Beauty and Boston Beer as they continue to show solid performance in the market.