Is OneWater Marine (ONEW) Stock Outpacing Its Consumer Discretionary Peers 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 one of 260 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #7 within the Zacks Sector Rank. 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 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. 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 signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ONEW has returned about 49.40% since the start of the calendar year. Meanwhile, stocks in the Consumer Discretionary group have lost about 3.81% on average. This means that OneWater Marine is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ONEW belongs to the Leisure and Recreation Products industry, a group that includes 21 individual stocks and currently sits at #24 in the Zacks Industry Rank. Stocks in this group have lost about 3.76% so far this year, so ONEW is performing better this group in terms of year-to-date returns.
Investors with an interest in Consumer Discretionary stocks should continue to track ONEW. The stock will be looking to continue its solid performance.
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