Is Pilgrim's Pride (PPC) Outperforming Other Consumer Staples Stocks This Year?
Investors focused on the Consumer Staples space have likely heard of Pilgrim's Pride (PPC), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Staples sector should help us answer this question.
Pilgrim's Pride is a member of the Consumer Staples sector. This group includes 176 individual stocks and currently holds a Zacks Sector Rank of #5. 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. PPC is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for PPC's full-year earnings has moved 20.61% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, PPC has gained about 82.98% so far this year. Meanwhile, the Consumer Staples sector has returned an average of 16.26% on a year-to-date basis. This means that Pilgrim's Pride is performing better than its sector in terms of year-to-date returns.
Looking more specifically, PPC belongs to the Food - Meat Products industry, which includes 5 individual stocks and currently sits at #83 in the Zacks Industry Rank. On average, this group has gained an average of 32.75% so far this year, meaning that PPC is performing better in terms of year-to-date returns.
PPC will likely be looking to continue its solid performance, so investors interested in Consumer Staples stocks should continue to pay close attention to the company.
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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.