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Is OneWater Marine (ONEW) Stock Outpacing Its Consumer Discretionary Peers This Year?

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  • ONEW

The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has OneWater Marine (ONEW) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

OneWater Marine 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 considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ONEW is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ONEW's full-year earnings has moved 41.90% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, ONEW has moved about 54.83% on a year-to-date basis. At the same time, Consumer Discretionary stocks have lost an average of 2.64%. This means that OneWater Marine is outperforming the sector as a whole this year.

Looking more specifically, ONEW belongs to the Leisure and Recreation Products industry, a group that includes 21 individual stocks and currently sits at #18 in the Zacks Industry Rank. Stocks in this group have lost about 3.10% so far this year, so ONEW is performing better this group in terms of year-to-date returns.

Investors in the Consumer Discretionary sector will want to keep a close eye on ONEW as it attempts to continue its solid performance.


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