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Looking For Consumer Stocks To Buy This Week? 4 Names To Watch

With stimulus checks reaching Americans this week, these consumer stocks are in focus.

consumer stocks to buy now

Are These Top Consumer Stocks Worth Buying This Month?

Consumer stocks have garnered attention this week. Given how President Joe Biden’s $1.9 trillion coronavirus relief bill was signed last Thursday, millions of Americans are now receiving their $1,400 stimulus checks. The bill also extends a $300 per week unemployment insurance supplement and expands the checks to dependents. Also, families will get $3,000 to $3,600 extra cash per child this year. Biden says that this historic legislation will help rebuild the backbone of this country. This could ultimately fuel consumer stocks to grow.

Throughout the pandemic, we have seen how consumer stocks were a mixed bag. Some consumer companies like Target Corporation (NYSE: TGT) have soared as they adapted to the pandemic. Another instance of a successful consumer stock is Sony Corp (NYSE: SNE) that has been up by over 90% in the last year. Given how the sector is very broad, there are plenty of top consumer stocks that could enjoy further growth. If you put the sector’s growth potential and federal stimulus together, you could have the right ingredients to help propel the economy to pre-pandemic levels and beyond. Given all of this, will you consider adding these top consumer stocks into your portfolio?

Best Consumer Stocks To Buy [Or Sell] Now

Nike Inc.

Nike is a multinational corporation that develops and sells apparel, footwear, and equipment. Furthermore, the company is headquartered in Oregon and is a world leader in designing products for a wide variety of sports and fitness activities. Impressively, it has over 75,000 employees worldwide and is one of the most valuable brands among sports businesses. It has a huge portfolio of brands that include the Nike brand, Hurley, and Converse. Nike will announce its third-quarter fiscal 2021 financial results tomorrow. NKE stock currently trades at $146.08 as of 10:36 a.m. ET.

Source: TD Ameritrade TOS

How has the company been doing financially? In its previous quarter financials that were reported in December, it posted a revenue of $11.2 billion, up by 9% year-over-year. Also, the company saw growth across all geographies, led by Greater China that reported a revenue growth of 24%. It’s NIKE direct sales were $4.3 billion, up by 32% on a reported basis. Nike also saw its digital sales increase by 84%, with triple-digit growth in North America and strong double-digit sales in the Asia Pacific and the Middle East. With that in mind, will you consider buying NKE stock ahead of its earnings?

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Dollar General Corporation

Dollar General or DG, in short, is a chain of variety stores headquartered in Tennessee and has over 17,000 stores in the U.S. It has become one of the most profitable stores in the rural U.S. in recent years. It offers a selection of merchandise, including consumables, home products, and apparel. DG also has a plethora of consumables for its customers. Because of its low-priced goods and given the circumstances that came with the pandemic, DG has been one of the consumer companies that have enjoyed substantial growth. Ahead of its fourth-quarter financials tomorrow, DG currently trades at $190.04 as of 11:27 a.m. ET.

Source: TD Ameritrade TOS

In the company’s third-quarter financials in December, DG reported that its net sales increased by 17.3% for the quarter. It also reported a diluted earnings per share of $2.31, a 62.7% increase year-over-year. DG also doubled its cash flow from operations to $3.4 billion for the quarter. It has also made great progress to advance its key strategic initiative, which includes the rollout of DG Pickup across nearly its entire store base. All things considered, will you buy DG stock?

[Read More] Are These The Best Entertainment Stocks To Watch This Week?

Build-A-Bear Workshop Inc.

Build-A-Bear Workshop or BBW is a retailer of teddy bears and other stuffed animals and characters. In detail, it allows its customers to make their own stuffed animal interactive retail-entertainment experience. The company’s segments include direct-to-consumer (DTC), international franchising, and commercial. BBW stock has been up by over 13% on today’s opening bell and currently trades at $8.31 as of 11:20 a.m. ET.

Source: TD Ameritrade TOS

Last week, the company announced its fourth-quarter results and beat analyst expectations. The company reported a 20.8% increase in pre-tax income for the quarter. Its total revenue of the quarter was $93.7 million. BBW, like many other retailers, saw a boom in its e-commerce demand, which increased by over 104% year-over-year. The company also ended the year with $34.8 million in cash. Given all of this, will you consider BBW as a top consumer stock to buy this month?

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RumbleOn Inc.

RumbleOn is an e-commerce platform that helps aggregate and distributes pre-owned vehicles to and from consumers and dealers. The company is disrupting the pre-owned vehicle supply chain by providing dealers with technology solutions such as a virtual inventory and a 24/7 distribution platform. Ultimately, it allows consumers to have an efficient and timely transaction experience without leaving home. RMBL stock has been up by over 70% in the past 5 trading sessions and currently trades at $56.81 as of 11:26 a.m. ET. Investors seem to be responding to the company’s fourth-quarter results on Monday.

Source: TD Ameritrade TOS

In it, the company reported that its gross profit per vehicle sold increased by 100% year-over-year. The company also reported a total revenue of $416.4 million for the year and a huge chunk of that revenue came from its automotive segment. RumbleOn’s decision to focus on profitability in 2020 despite being impacted by the coronavirus has resulted in significantly reduced commercial activity.

Despite these factors, the company’s full-year results demonstrate improvements in margin and EBITDA. “Less than seven months after launching RumbleOn 3.0 it’s clear the newest generation of RumbleOn has been a great success,” said Marshall Chesrown, Chief Executive Officer. “RumbleOn 3.0 has increased overall listings on RumbleOn.com which has led to an improvement in gross profit on vehicles sold of more than 100% in 2020 as compared to 2019.” With this said, will you consider buying RMBL stock?

By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like MarijuanaStocks.com. He also is head of social media management for StockMarket.com.

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

Jonathan has also managed to build a strong social media presence for companies. He has worked with hundreds of public companies to develop a digital presence. As an active blogger and social media influencer, his focus is on lifestyle segments of the market. You can find Jonathan reporting on anything from industry conferences and investor events to corporate disclosures and cannabis market movers.

Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

Jonathan is also an active member of the underground hip-hop scene. He has worked with some of the biggest names in the rap community while also gaining valuable insight from top producers and business moguls focused on moving brands forward. In his free time, Jonathan builds social communities and continues to hone his skills as a leading financial writer.

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