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Is GoPro (GPRO) Outperforming Other Consumer Discretionary Stocks This Year?

Zacks Equity Research

Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Is GoPro (GPRO) 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.

GoPro is a member of our Consumer Discretionary group, which includes 243 different companies and currently sits at #13 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. GPRO is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for GPRO's full-year earnings has moved 130.77% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, GPRO has moved about 28.77% on a year-to-date basis. At the same time, Consumer Discretionary stocks have gained an average of 20.90%. This means that GoPro is performing better than its sector in terms of year-to-date returns.

To break things down more, GPRO belongs to the Audio Video Production industry, a group that includes 7 individual companies and currently sits at #70 in the Zacks Industry Rank. On average, this group has gained an average of 8.17% so far this year, meaning that GPRO is performing better in terms of year-to-date returns.

GPRO will likely be looking to continue its solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to the company.


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