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Is MGP Ingredients (MGPI) Outperforming Other Consumer Staples Stocks This Year?

Zacks Equity Research
·2 min read

Investors interested in Consumer Staples stocks should always be looking to find the best-performing companies in the group. MGP (MGPI) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.

MGP is a member of our Consumer Staples group, which includes 199 different companies and currently sits at #14 in the Zacks Sector Rank. 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 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. MGP is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for MGPI's full-year earnings has moved 8.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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According to our latest data, MGPI has moved about 26.7% on a year-to-date basis. Meanwhile, the Consumer Staples sector has returned an average of -8.3% on a year-to-date basis. This means that MGP is outperforming the sector as a whole this year.

Another Consumer Staples stock, which has outperformed the sector so far this year, is SunOpta (STKL). The stock has returned 37.4% year-to-date.

The consensus estimate for SunOpta's current year EPS has increased 100% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, MGP belongs to the Food - Miscellaneous industry, a group that includes 50 individual stocks and currently sits at #167 in the Zacks Industry Rank. On average, this group has lost an average of 3% so far this year, meaning that MGPI is performing better in terms of year-to-date returns. SunOpta is also part of the same industry.

Investors with an interest in Consumer Staples stocks should continue to track MGP and SunOpta. These stocks will be looking to continue their solid performance.


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MGP Ingredients, Inc. (MGPI) : Free Stock Analysis Report
 
SunOpta, Inc. (STKL) : Free Stock Analysis Report
 
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Zacks Investment Research