Has Carvana (CVNA) Outpaced Other Retail-Wholesale Stocks This Year?
Investors interested in Retail-Wholesale stocks should always be looking to find the best-performing companies in the group. Has Carvana (CVNA) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Retail-Wholesale sector should help us answer this question.
Carvana is one of 221 companies in the Retail-Wholesale group. The Retail-Wholesale group currently sits at #10 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Carvana is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CVNA's full-year earnings has moved 6.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CVNA has returned 58.7% so far this year. Meanwhile, stocks in the Retail-Wholesale group have gained about 5.7% on average. As we can see, Carvana is performing better than its sector in the calendar year.
Another stock in the Retail-Wholesale sector, Solo Brands, Inc. (DTC), has outperformed the sector so far this year. The stock's year-to-date return is 109.1%.
For Solo Brands, Inc. the consensus EPS estimate for the current year has increased 10.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Carvana is a member of the Internet - Commerce industry, which includes 40 individual companies and currently sits at #78 in the Zacks Industry Rank. This group has gained an average of 12.4% so far this year, so CVNA is performing better in this area. Solo Brands, Inc. is also part of the same industry.
Investors interested in the Retail-Wholesale sector may want to keep a close eye on Carvana and Solo Brands, Inc. as they attempt to continue their solid performance.
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