Regular routines are a thing of past now for everyone, be it an office worker or a student. The coronavirus pandemic has disturbed the settled schedules of all but in the process has freed up a lot of time that was previously unavailable.
With stay-at-home trends in place and ample time, people have started to focus on things and activities that they have been putting off for a long time. To be more precise, changes in lifestyle, a zeal to get fit and pursuing hobbies have taken over the people stuck at home.
Apprehensions regarding a second wave of coronavirus with no vaccine yet in sight has only further encouraged people to alter the way of living and focus on adopting a healthy schedule in a bid to boost immunity.
Stay-at-home wave has positively influenced Americans, who have been increasingly adopting measures that ensure healthy wellbeing. Cook-at-home, work-out-from-home, activities-at-home to lift mental and physical health have been by-products of the stay-at-home trend.
Moreover, as Americans are saving the travel-to-work time due to ongoing work-from-home wave, they have been able to pay attention to their health, like never before.
Bidding Goodbye to Sedentary Routine
The pandemic has served as a wakeup call for people to change their sedentary approach to life and focus on healthcare. As people are expected to follow social distancing norms, wear masks and limit travel for the foreseeable future amid resurgence in coronavirus cases, these positive trends are here to stay.
Per a latest NPD report, running footwear market experienced solid recovery in mid-May through the week ending June 20, marking five back-to-back weeks of robust growth in year-over-year sales.
Per another report from the NPD Group, fitness equipment sales soared 130% in March on a year-over-year basis. Sales of free weights, stationary bikes and yoga mats were up 181%, 170%, and 146%, respectively.
With schools closed, parents have been taking initiatives to provide recreation at home. This has led to traction in backyard games, swimming pools, trampolines, basketball hoop systems, golf nets, to name a few. Per NPD data quoted above, sales of sports equipment including hockey goals and nets, soccer, and lacrosse, netted in combined sales of $13.5 million in March, up 38% year over year. Basketball hoop systems sales increased 110%, while sales of golf nets and screens soared 144%.
Here we discuss six top-ranked stocks that are lucrative bets as Americans adapt to an active lifestyle amid the new normal. Let us take a look.
Year-to-Date Price Performance
Providence, RI-based, United Natural Foods UNFI has been gaining traction from burgeoning demand of natural, organic, fresh and conventional products, stemming from the coronavirus-led cook-at-home wave and panic hoarding of essential items.
The Zacks Consensus Estimate for fiscal 2020 earnings has been revised upward by 103.4% over the past 60 days to $2.40 per share. Moreover, the company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Domiciled in Phoenix, AZ, Sprouts Farmers Market SFM has been benefiting from coronavirus-led demand spike in health and wellness products that are generally plant-based, gluten-free, keto-friendly, and grass-fed. The company is focusing on natural and organic food to meet evolving preferences of consumers.
The company, currently flaunting a Zacks Rank #1, has a unique model that features fresh produce at the center of the store, an expansive bulk foods section, and a vitamin department focused on overall wellness.
The consensus mark for its 2020 earnings is pegged at $1.69 per share, having been revised 4.3% upward in the past 60 days.
Based in Covington, LA, Pool Corporation POOL is the world's largest wholesale distributor of swimming pool supplies, equipment and related products.
The company benefits from its expansion strategy, robust base business and healthy balance sheet. Per a recent Technavio report, global swimming pool market is envisioned to grow by $3.56 billion between 2020 and 2024, backed by new business avenues created by COVID-19 pandemic and large-scale urbanization. This is expected to boost investor optimism in this Zacks Rank #1 stock.
The consensus mark for current-year earnings is pegged at $5.97 per share, having been revised 6.6% upward in the past 60 days.
Headquartered in Birmingham, AL, major athletic-inspired retailer, Hibbett Sports HIBB is well poised to benefit from its merchandising strategy to provide high-quality assortment including innovative launches in categories like footwear, athleisure, accessories and athletic equipment, at competitive prices in convenient locations.
Hibbett stores have access to coveted footwear, apparel and equipment from popular brands such as Nike NKE, Under Armour and Adidas.
The company’s initiatives to reopen stores in a phased way, solid momentum in May with robust e-commerce sales in the first quarter are expected to heighten investor optimism in this Zacks Rank #2 (Buy) stock.
The consensus mark for its fiscal 2021 earnings is pegged at 93 cents per share, having moved north by 27.4% in the past 60 days.
Being a leading provider of interactive fitness products, New York, NY-based Peloton Interactive PTON, currently carrying a Zacks Rank #2, saw its connected fitness subscribers soar 94% year over year to more than 886,100 in the fiscal third quarter ending Mar 31, 2020.
The company’s in-house exercise equipment including treadmills and stationary bikes, and web-based interactive fitness classes are expected to be in demand among fitness enthusiasts.
The Zacks Consensus Estimate for fiscal 2021 bottom line is pegged at a loss of 35 cents per share, having narrowed from a loss of 40 cents in the past 60 days.
Based in Fairhaven, MA, Acushnet Holdings Corp. GOLF designs, develops, manufactures, and distributes golf products.
Coronavirus crisis induced rise in spend on home improvement and remodeling and replacement of in-ground pools is likely to act as a boon for this Zacks Rank #2 company.
The consensus mark for its current year earnings moved up by a penny to 71 cents per share in the past 60 days.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>
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NIKE, Inc. (NKE) : Free Stock Analysis Report
Hibbett Sports, Inc. (HIBB) : Free Stock Analysis Report
Pool Corporation (POOL) : Free Stock Analysis Report
United Natural Foods, Inc. (UNFI) : Free Stock Analysis Report
Acushnet Holdings Corp. (GOLF) : Free Stock Analysis Report
Sprouts Farmers Market, Inc. (SFM) : Free Stock Analysis Report
Peloton Interactive, Inc. (PTON) : Free Stock Analysis Report
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