Has Local Bounti (LOCL) Outpaced 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. Local Bounti Corporation (LOCL) 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.Local Bounti Corporation is a member of the Consumer Staples sector. This group includes 177 individual stocks and currently holds a Zacks Sector Rank of #9. 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. Local Bounti Corporation is currently sporting a Zacks Rank of #2 (Buy).Within the past quarter, the Zacks Consensus Estimate for LOCL's full-year earnings has moved 30.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.According to our latest data, LOCL has moved about 13.5% on a year-to-date basis. Meanwhile, the Consumer Staples sector has returned an average of 4.9% on a year-to-date basis. As we can see, Local Bounti Corporation is performing better than its sector in the calendar year.Another stock in the Consumer Staples sector, Nomad Foods (NOMD), has outperformed the sector so far this year. The stock's year-to-date return is 15.7%.In Nomad Foods' case, the consensus EPS estimate for the current year increased 6.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).Looking more specifically, Local Bounti Corporation belongs to the Agriculture - Operations industry, a group that includes 14 individual stocks and currently sits at #76 in the Zacks Industry Rank. This group has lost an average of 1.6% so far this year, so LOCL is performing better in this area.Nomad Foods, however, belongs to the Food - Miscellaneous industry. Currently, this 41-stock industry is ranked #83. The industry has moved -4% so far this year.Investors with an interest in Consumer Staples stocks should continue to track Local Bounti Corporation and Nomad Foods. These stocks will be looking to continue their solid performance.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Local Bounti Corporation (LOCL): Free Stock Analysis Report Nomad Foods Limited (NOMD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks