The best performing stock so far this year is a cosmetics company

Shares of the cosmetics distributor are up more than 100% in 2019, while the S&P 500 is up only 17%. Investors are betting on a major turnaround for Coty, under new management and finally recovering from its acquisition of P&G's beauty business. The stock fell 67% last year.

"While worse than expected, U.S. mass beauty trends caught management by surprise -- management is making the necessary pivots," Feeney said. However, analysts agree that Coty's core brands -- like Covergirl, Rimmel and Max factor -- are losing momentum. In a recent note, D.A. Davidson said that four of Coty's six "color cosmetic brands" have lost social media ranking. D.A. Davidson has a neutral rating on the stock.

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