Is Corteva (CTVA) Stock Outpacing Its Consumer Staples Peers This Year?

For those looking to find strong Consumer Staples stocks, it is prudent to search for companies in the group that are outperforming their peers. Corteva, Inc. (CTVA) 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? By taking a look at the stock's year-to-date performance in comparison to its Consumer Staples peers, we might be able to answer that question.Corteva, Inc. is one of 184 companies in the Consumer Staples group. The Consumer Staples group currently sits at #16 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.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. Corteva, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).Within the past quarter, the Zacks Consensus Estimate for CTVA's full-year earnings has moved 7.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.Based on the most recent data, CTVA has returned 12.9% so far this year. At the same time, Consumer Staples stocks have lost an average of 1.1%. This means that Corteva, Inc. is outperforming the sector as a whole this year.Another stock in the Consumer Staples sector, Local Bounti Corporation (LOCL), has outperformed the sector so far this year. The stock's year-to-date return is 43%.The consensus estimate for Local Bounti Corporation's current year EPS has increased 13.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, Corteva, Inc. is a member of the Agriculture - Operations industry, which includes 15 individual companies and currently sits at #93 in the Zacks Industry Rank. On average, stocks in this group have gained 5.4% this year, meaning that CTVA is performing better in terms of year-to-date returns. Local Bounti Corporation is also part of the same industry.Corteva, Inc. and Local Bounti Corporation could continue their solid performance, so investors interested in Consumer Staples stocks should continue to pay close attention to these stocks.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Corteva, Inc. (CTVA): Free Stock Analysis Report Local Bounti Corporation (LOCL): 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