Is e.l.f. Beauty (ELF) Outperforming Other Consumer Staples Stocks This Year?
Investors interested in Consumer Staples stocks should always be looking to find the best-performing companies in the group. Is e.l.f. Beauty (ELF) one of those stocks right now? 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.
e.l.f. Beauty is a member of the Consumer Staples sector. This group includes 180 individual stocks and currently holds a Zacks Sector Rank of #9. 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. ELF is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ELF's full-year earnings has moved 37.50% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ELF has returned 97% so far this year. Meanwhile, the Consumer Staples sector has returned an average of 18.10% on a year-to-date basis. This means that e.l.f. Beauty is outperforming the sector as a whole this year.
To break things down more, ELF belongs to the Cosmetics industry, a group that includes 13 individual companies and currently sits at #13 in the Zacks Industry Rank. This group has gained an average of 40.65% so far this year, so ELF is performing better in this area.
Investors with an interest in Consumer Staples stocks should continue to track ELF. The stock will be looking to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.