For those looking to find strong Consumer Staples stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Turning Point Brands (TPB) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Turning Point Brands is a member of our Consumer Staples group, which includes 173 different companies and currently sits at #9 in the Zacks Sector Rank. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. TPB is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for TPB's full-year earnings has moved 32.09% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, TPB has returned 0.91% so far this year. In comparison, Consumer Staples companies have returned an average of -4.35%. This means that Turning Point Brands is outperforming the sector as a whole this year.
Breaking things down more, TPB is a member of the Tobacco industry, which includes 8 individual companies and currently sits at #34 in the Zacks Industry Rank. This group has lost an average of 9.58% so far this year, so TPB is performing better in this area.
Investors in the Consumer Staples sector will want to keep a close eye on TPB as it attempts 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.