Investors focused on the Retail-Wholesale space have likely heard of Best Buy Co. (BBY - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Best Buy Co. is a member of the Retail-Wholesale sector. This group includes 213 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. BBY is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BBY's full-year earnings has moved 16.77% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, BBY has gained about 11.58% so far this year. In comparison, Retail-Wholesale companies have returned an average of -3.72%. This shows that Best Buy Co. is outperforming its peers so far this year.
To break things down more, BBY belongs to the Retail - Consumer Electronics industry, a group that includes 4 individual companies and currently sits at #82 in the Zacks Industry Rank. On average, stocks in this group have gained 41.04% this year, meaning that BBY is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Retail-Wholesale stocks should continue to pay close attention to BBY as it looks to continue its solid performance.
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Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
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Investors focused on the Retail-Wholesale space have likely heard of Best Buy Co. (BBY - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Best Buy Co. is a member of the Retail-Wholesale sector. This group includes 213 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. BBY is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BBY's full-year earnings has moved 16.77% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, BBY has gained about 11.58% so far this year. In comparison, Retail-Wholesale companies have returned an average of -3.72%. This shows that Best Buy Co. is outperforming its peers so far this year.
To break things down more, BBY belongs to the Retail - Consumer Electronics industry, a group that includes 4 individual companies and currently sits at #82 in the Zacks Industry Rank. On average, stocks in this group have gained 41.04% this year, meaning that BBY is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Retail-Wholesale stocks should continue to pay close attention to BBY as it looks to continue its solid performance.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
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