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Is NIKE (NKE) Stock Outpacing Its Consumer Discretionary Peers 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 NIKE (NKE) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Discretionary sector should help us answer this question.

NIKE is a member of the Consumer Discretionary sector. This group includes 243 individual stocks and currently holds a Zacks Sector Rank of #11. 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. NKE is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for NKE's full-year earnings has moved 2.59% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, NKE has moved about 20.78% on a year-to-date basis. Meanwhile, stocks in the Consumer Discretionary group have gained about 18.42% on average. This shows that NIKE is outperforming its peers so far this year.

Looking more specifically, NKE belongs to the Shoes and Retail Apparel industry, which includes 12 individual stocks and currently sits at #91 in the Zacks Industry Rank. On average, stocks in this group have gained 21.88% this year, meaning that NKE is slightly underperforming its industry in terms of year-to-date returns.

NKE 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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