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The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is NIKE (NKE) 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.
NIKE is a member of the Consumer Discretionary sector. This group includes 259 individual stocks and currently holds a Zacks Sector Rank of #7. 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. NKE is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NKE's full-year earnings has moved 10.56% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, NKE has returned 15.70% so far this year. Meanwhile, the Consumer Discretionary sector has returned an average of -3.16% on a year-to-date basis. This means that NIKE is performing better than its sector in terms of year-to-date returns.
Breaking things down more, NKE is a member of the Shoes and Retail Apparel industry, which includes 12 individual companies and currently sits at #13 in the Zacks Industry Rank. On average, stocks in this group have gained 17.09% this year, meaning that NKE is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Consumer Discretionary stocks should continue to track NKE. The stock will be looking to continue its solid performance.
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