Has Best Buy Co. (BBY) Outpaced Other Retail-Wholesale Stocks This Year?
The Retail-Wholesale group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Best Buy Co. (BBY) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Retail-Wholesale peers, we might be able to answer that question.
Best Buy Co. is one of 224 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. BBY is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BBY's full-year earnings has moved 1.81% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, BBY has moved about 42.94% on a year-to-date basis. Meanwhile, stocks in the Retail-Wholesale group have gained about 21.01% on average. As we can see, Best Buy Co. is performing better than its sector in the calendar year.
To break things down more, BBY belongs to the Retail - Consumer Electronics industry, a group that includes 5 individual companies and currently sits at #29 in the Zacks Industry Rank. This group has gained an average of 34% so far this year, so BBY is performing better in this area.
Investors with an interest in Retail-Wholesale stocks should continue to track BBY. The stock will be looking to continue its solid performance.
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