Is Boyd Gaming (BYD) Stock Outpacing Its Consumer Discretionary Peers This Year?
The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Boyd Gaming (BYD) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question.
Boyd Gaming is a member of the Consumer Discretionary sector. This group includes 261 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. BYD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for BYD's full-year earnings has moved 43.84% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, BYD has returned 43.27% so far this year. Meanwhile, stocks in the Consumer Discretionary group have lost about 4.14% on average. As we can see, Boyd Gaming is performing better than its sector in the calendar year.
To break things down more, BYD belongs to the Gaming industry, a group that includes 36 individual companies and currently sits at #189 in the Zacks Industry Rank.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to BYD as it looks to continue its solid performance.
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