Investors focused on the Consumer Discretionary space have likely heard of NIKE (NKE), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of NKE and the rest of the Consumer Discretionary group's stocks.
NIKE is a member of the Consumer Discretionary sector. This group includes 246 individual stocks and currently holds a Zacks Sector Rank of #11. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. NKE is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NKE's full-year earnings has moved 1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, NKE has moved about 24.51% on a year-to-date basis. Meanwhile, stocks in the Consumer Discretionary group have gained about 15.56% on average. This means that NIKE is performing better than its sector in terms of year-to-date returns.
Looking more specifically, NKE belongs to the Shoes and Retail Apparel industry, which includes 12 individual stocks and currently sits at #41 in the Zacks Industry Rank. Stocks in this group have gained about 24.24% so far this year, so NKE is performing better this group in terms of year-to-date returns.
Investors with an interest in Consumer Discretionary stocks should continue to track NKE. The stock will be looking to continue its solid performance.
NIKE, Inc. (NKE): Free Stock Analysis Report
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Zacks Investment Research