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Investors focused on the Consumer Discretionary space have likely heard of NIKE (NKE), but is the stock performing well in comparison to the rest of its sector peers? 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.
NIKE is a member of our Consumer Discretionary group, which includes 260 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. NKE is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NKE's full-year earnings has moved 11.67% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that NKE has returned about 22.15% since the start of the calendar year. Meanwhile, stocks in the Consumer Discretionary group have lost about 3% on average. This means that NIKE is outperforming the sector as a whole this year.
Looking more specifically, NKE belongs to the Shoes and Retail Apparel industry, which includes 12 individual stocks and currently sits at #20 in the Zacks Industry Rank. Stocks in this group have gained about 24.58% so far this year, so NKE is slightly underperforming its industry this group in terms of year-to-date returns.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to NKE as it looks to continue its solid performance.
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