For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Covista (CVSA) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Discretionary sector should help us answer this question.
Covista is a member of our Consumer Discretionary group, which includes 243 different companies and currently sits at #8 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Covista is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CVSA's full-year earnings has moved 1.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CVSA has returned about 24.5% since the start of the calendar year. At the same time, Consumer Discretionary stocks have lost an average of 9.7%. This means that Covista is outperforming the sector as a whole this year.
Another Consumer Discretionary stock, which has outperformed the sector so far this year, is Escalade (ESCA). The stock has returned 36.2% year-to-date.
The consensus estimate for Escalade's current year EPS has increased 13.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Covista belongs to the Schools industry, a group that includes 18 individual stocks and currently sits at #46 in the Zacks Industry Rank. On average, stocks in this group have gained 3.9% this year, meaning that CVSA is performing better in terms of year-to-date returns.
Escalade, however, belongs to the Leisure and Recreation Products industry. Currently, this 21-stock industry is ranked #156. The industry has moved -9% so far this year.
Investors with an interest in Consumer Discretionary stocks should continue to track Covista and Escalade. These stocks will be looking to continue their solid performance.
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Covista Inc. (CVSA): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).