Is Target (TGT) Stock Outpacing Its Retail-Wholesale Peers This Year?
The Retail-Wholesale group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Target (TGT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Retail-Wholesale sector should help us answer this question.
Target is one of 219 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. TGT is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for TGT's full-year earnings has moved 4.47% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that TGT has returned about 39.19% since the start of the calendar year. Meanwhile, the Retail-Wholesale sector has returned an average of -6.36% on a year-to-date basis. This means that Target is performing better than its sector in terms of year-to-date returns.
Looking more specifically, TGT belongs to the Retail - Discount Stores industry, which includes 8 individual stocks and currently sits at #112 in the Zacks Industry Rank. Stocks in this group have gained about 12.58% so far this year, so TGT is performing better this group in terms of year-to-date returns.
Investors with an interest in Retail-Wholesale stocks should continue to track TGT. The stock will be looking to continue its solid performance.
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