Is Rover Group (ROVR) Outperforming Other Retail-Wholesale Stocks This Year?
Investors interested in Retail-Wholesale stocks should always be looking to find the best-performing companies in the group. Is Rover Group, Inc. (ROVR) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Retail-Wholesale peers, we might be able to answer that question.
Rover Group, Inc. is one of 220 companies in the Retail-Wholesale group. The Retail-Wholesale group currently sits at #3 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 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. Rover Group, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ROVR's full-year earnings has moved 175% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ROVR has moved about 68.9% on a year-to-date basis. Meanwhile, stocks in the Retail-Wholesale group have gained about 16% on average. This means that Rover Group, Inc. is outperforming the sector as a whole this year.
Another Retail-Wholesale stock, which has outperformed the sector so far this year, is Red Robin (RRGB). The stock has returned 93.6% year-to-date.
In Red Robin's case, the consensus EPS estimate for the current year increased 21% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Rover Group, Inc. belongs to the Internet - Commerce industry, a group that includes 41 individual stocks and currently sits at #79 in the Zacks Industry Rank. On average, stocks in this group have gained 35.6% this year, meaning that ROVR is performing better in terms of year-to-date returns.
On the other hand, Red Robin belongs to the Retail - Restaurants industry. This 41-stock industry is currently ranked #45. The industry has moved +5.7% year to date.
Rover Group, Inc. and Red Robin could continue their solid performance, so investors interested in Retail-Wholesale stocks should continue to pay close attention to these stocks.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Rover Group, Inc. (ROVR) : Free Stock Analysis Report
Red Robin Gourmet Burgers, Inc. (RRGB) : Free Stock Analysis Report
