Has OneWater Marine (ONEW) Outpaced Other Consumer Discretionary Stocks This Year?
Investors focused on the Consumer Discretionary space have likely heard of OneWater Marine (ONEW), 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.
OneWater Marine is a member of our Consumer Discretionary group, which includes 260 different companies and currently sits at #5 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 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. ONEW is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ONEW's full-year earnings has moved 12.82% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ONEW has returned about 47.16% since the start of the calendar year. Meanwhile, the Consumer Discretionary sector has returned an average of -2.61% on a year-to-date basis. This shows that OneWater Marine is outperforming its peers so far this year.
Looking more specifically, ONEW belongs to the Leisure and Recreation Products industry, which includes 21 individual stocks and currently sits at #21 in the Zacks Industry Rank. On average, stocks in this group have lost 4.49% this year, meaning that ONEW is performing better in terms of year-to-date returns.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to ONEW as it looks to continue its solid performance.
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