The most oversold stocks in the consumer staples sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
HF Foods Group Inc. (NASDAQ:HFFG)
- On March 14, HF Foods Group posted a profit for the fourth quarter. “We are excited by the progress we have made on our operational transformation plan that we expect to help us drive long-term growth and profitability,” said Peter Zhang, Chief Executive Officer of HF Foods. The company’s stock fell around 10% over the past five days and has a 52-week low of $3.33.
- RSI Value: 22.82
- HFFG Price Action: Shares of HF Foods fell 1.2% to close at $3.36 on Thursday.
The Boston Beer Company, Inc. (NYSE:SAM)
- On Feb. 27, Boston Beer reported worse-than-expected fourth-quarter financial results. Boston Beer disclosed the retirement of Dave Burwick from the post of President and Chief Executive Officer and member of the Board of Directors, effective April 1, 2024. The company’s stock fell around 17% over the past month. It has a 52-week low of $293.36.
- RSI Value: 26.44
- SAM Price Action: Shares of Boston Beer fell 1.4% to close at $294.27 on Thursday.
Inter Parfums, Inc. (NASDAQ:IPAR)
- On Feb. 27, Inter Parfums posted better-than-expected quarterly sales. Jean Madar, Chairman & Chief Executive Officer of Inter Parfums said, “Ongoing demand for our brands, strong holiday season sell-through, and a dynamic fragrance market resulted in a strong 2023 fourth quarter and record full year net sales and earnings results.” The company’s stock fell around 11% over the past month and has a 52-week low of $120.71.
- RSI Value: 29.00
- IPAR Price Action: Shares of Inter Parfums fell 1.6% to close at $134.02 on Thursday.
Dollar Tree, Inc. (NASDAQ:DLTR)
- On March 13, Dollar Tree reported worse-than-expected fourth-quarter financial results and issued first-quarter EPS guidance below estimates. “Our core operating performance was strong in the fourth quarter, despite some unanticipated developments related to general liability claims,” said CFO Jeff Davis. The company’s shares lost around 16% over the past five days. The company’s 52-week low is $102.77.
- RSI Value: 25.45
- DLTR Price Action: Shares of Dollar Tree fell 2.5% to close at $125.23 on Wednesday.
United Natural Foods, Inc. (NYSE:UNFI)
- On March 6, United Natural reported second-quarter adjusted earnings per share of 7 cents, beating the analyst consensus of a loss of 1 cent. “We are making steady progress on the multiple work-streams underlying both our near-term and longer-term transformation into a more efficient and effective partner to our customers, while we also enhance profitability and long-term shareholder value creation,” said Sandy Douglas, UNFI’s Chief Executive Officer. The company’s shares fell around 29% over the past month. The company has a 52-week low of $11.38.
- RSI Value: 23.36
- UNFI Price Action: Shares of United Natural Foods fell 4.2% to close at $11.62 on Thursday.
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