Top 3 Consumer Stocks That Could Lead to the Biggest Gains This Quarter – Stitch Fix (NASDAQ:SFIX), Foot Locker (NYSE:FL)

The most oversold stocks in the Consumer Discretionary sector offer an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, comparing a stock’s strength on days when prices rise to its strength on days when prices fall. Compared to a stock’s price action, it can give traders a better idea of ​​how a stock might perform in the short term. According to Benzinga Pro, an asset is generally considered oversold when the RSI is below 30.

Here is the latest list of major oversold players in this sector, with an RSI near or below 30.

Standard Engine Products, Inc. SMP

• On Feb. 22, Standard Motor Products reported worse-than-expected fourth-quarter financial results and issued guidance. Eric Sills, President and CEO of Standard Motor Products, said: “Overall we were disappointed with our results. Sales fell 1% in 2023, with the fourth quarter ending weaker than expected , down 5.7% from last year. As we look at our two end markets, we have been very pleased with the continued strong performance in our engineered solutions business as we have seen strong growth with both new and existing customers. exist.” The company’s shares are down about 22% over the past month and have a 52 week low of $30.09 .
• RSI value: 9.40pm
• SMP Price Action: Shares of Standard Motor Products gained 0.4% to close at $31.14 on Wednesday.

Foot Locker, Inc. Florida

• On March 6, Foot Locker reported fourth-quarter FY23 sales growth of 2% year-over-year to $2.38 billion, beating analysts’ consensus estimate of $2.28 billion. The company’s shares are down about 23% over the past month. It has a minimum of 52 weeks of $14.84.
• RSI value: 28.57
• FL Price Action: Foot Locker shares fell 4.8% to close at $23.18 on Wednesday.

Punto Fix, Inc. SFIX

• On March 4, Stitch Fix reported quarterly losses of 30 cents per share, missing analysts’ consensus estimate of losses of 20 cents per share. “Stitch Fix’s original vision to create an easier and more fun way for people to shop for clothing and accessories remains relevant and compelling,” said Matt Baer, ​​CEO of Stitch Fix. The company’s shares are down about 38% over the past month and have a 52-week hold minimum of $2.30.
• RSI value: 28.03
• SFIX Price Action: Stitch Fix shares fell 0.9% to close at $2.32 on Wednesday.

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