Is The Clorox (CLX) Outperforming Other Consumer Staples Stocks This Year?
Investors focused on the Consumer Staples space have likely heard of The Clorox (CLX), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
The Clorox is one of 172 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CLX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CLX's full-year earnings has moved 6.23% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CLX has returned about 50.14% since the start of the calendar year. Meanwhile, stocks in the Consumer Staples group have lost about 10.07% on average. This means that The Clorox is performing better than its sector in terms of year-to-date returns.
Looking more specifically, CLX belongs to the Soap and Cleaning Materials industry, which includes 8 individual stocks and currently sits at #57 in the Zacks Industry Rank. Stocks in this group have gained about 3.02% so far this year, so CLX is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Consumer Staples stocks should continue to pay close attention to CLX as it looks 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.