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4 Leisure Stocks to Buy as Economy Reopens Further
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The leisure and recreation industry has been one of the biggest casualties of the pandemic but things finally seem to be looking up with restrictions eased and bans on travel being lifted.
Jobless claims have been on a decline for the past few weeks, which indicates that economic reopening is creating more employment. In May, the leisure and hospitality industry added the maximum number of jobs among all others.
Leisure and Recreation Industry Turning Around
The leisure and recreation industry caters mostly to outdoor activities and depends largely on overall economic conditions. It got a much-needed boost last month when the Centers for Disease Control and Prevention (CDC) started lifting bans on travel and eased many restrictions.
With the vaccination drive in full swing, people are feeling a lot confident to go out. This has seen the CDC taking some bold decisions such as fully vaccinated Americans no longer require to wear masks either indoors or outdoors. Also, people need not go for a mandatory COVID-19 test before flying or quarantine after flying.
Given the improved scenario, more people are traveling and making plans for summer. Public entertainment joints have also finally started attracting more footfall. Air travel too is increasing, giving a huge relief to the airlines. The leisure and recreation industry is thus set to finally get a boost.
Industry Poised to Grow
The Transportation Security Administration screened more than 7.1 million passengers between May 27 and Jun 1 or the Memorial Day weekend. This was the highest traffic since March 2020.
Royal Caribbean Cruises Ltd. (RCL - Free Report) , Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) and Carnival Corporation (CCL - Free Report) also sound confident about bookings and have announced that they will resume cruising this summer.
Besides, jobs too are being created in the leisure and recreation industry. According to the Labor Department, leisure and hospitality added 292,000jobs in May, which indicates that the industry is expecting a rebound and is filling in positions before bookings pick up.
Our Choices
It would be prudent to invest in these leisure and recreation stocks withreopening taking place on a wider scale and people’s confidence getting a shot in the arm. We have picked five stocks with a Zacks Rank #1 (Strong Buy) or 2 (Buy) that are poised to benefit in the near term. You can see the complete list of today’s Zacks #1 Rank stocks here.
OneWater Marine Inc. (ONEW - Free Report) is a premium recreational boat retailer functioning principally in the United States. It offers products and services, which include the sale of new and pre-owned boats, parts and accessories, finance and insurance products, maintenance and repair services, and ancillary services.
The company’s expected earnings growth rate for the current year is 54.9%. The Zacks Consensus Estimate for current-year earnings has improved 31.1% over the past 60 days. OneWater Marines sports a Zacks Rank #1.
Pool Corporation (POOL - Free Report) is the world's largest wholesale distributor of swimming pool supplies, equipment and related products. In addition, the company is a leading regional wholesale distributor of irrigation and landscape products.
The company’s expected earnings growth rate for the current year is 38.4%. The Zacks Consensus Estimate for current-year earnings has improved 22.8% over the past 60 days. Pool Corporation has a Zacks Rank #1.
Mastercraft Boat Holdings, Inc. (MCFT - Free Report) designs, manufactures and markets recreational powerboats through its subsidiaries. The company's operating segment consists of MasterCraft and NauticStar.
The company’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 18.6% over the past 60 days. Mastercraft Boat carries a Zacks Rank #2.
YETI Holdings, Inc. (YETI - Free Report) designs, markets and distributes products for the outdoor and recreation market under YETI brand primarily in the United States. The company's products are designed for use in outdoor activities, including hunting, fishing, camping, barbecue, and farm and ranch activities among others.
The company’s expected earnings growth rate for the current year is 26.2%. The Zacks Consensus Estimate for current-year earnings has improved 8.8% over the past 60 days. The company has a Zacks Rank #2.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Image: Bigstock
4 Leisure Stocks to Buy as Economy Reopens Further
The leisure and recreation industry has been one of the biggest casualties of the pandemic but things finally seem to be looking up with restrictions eased and bans on travel being lifted.
Jobless claims have been on a decline for the past few weeks, which indicates that economic reopening is creating more employment. In May, the leisure and hospitality industry added the maximum number of jobs among all others.
Leisure and Recreation Industry Turning Around
The leisure and recreation industry caters mostly to outdoor activities and depends largely on overall economic conditions. It got a much-needed boost last month when the Centers for Disease Control and Prevention (CDC) started lifting bans on travel and eased many restrictions.
With the vaccination drive in full swing, people are feeling a lot confident to go out. This has seen the CDC taking some bold decisions such as fully vaccinated Americans no longer require to wear masks either indoors or outdoors. Also, people need not go for a mandatory COVID-19 test before flying or quarantine after flying.
Given the improved scenario, more people are traveling and making plans for summer. Public entertainment joints have also finally started attracting more footfall. Air travel too is increasing, giving a huge relief to the airlines. The leisure and recreation industry is thus set to finally get a boost.
Industry Poised to Grow
The Transportation Security Administration screened more than 7.1 million passengers between May 27 and Jun 1 or the Memorial Day weekend. This was the highest traffic since March 2020.
Royal Caribbean Cruises Ltd. (RCL - Free Report) , Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) and Carnival Corporation (CCL - Free Report) also sound confident about bookings and have announced that they will resume cruising this summer.
Besides, jobs too are being created in the leisure and recreation industry. According to the Labor Department, leisure and hospitality added 292,000jobs in May, which indicates that the industry is expecting a rebound and is filling in positions before bookings pick up.
Our Choices
It would be prudent to invest in these leisure and recreation stocks withreopening taking place on a wider scale and people’s confidence getting a shot in the arm. We have picked five stocks with a Zacks Rank #1 (Strong Buy) or 2 (Buy) that are poised to benefit in the near term. You can see the complete list of today’s Zacks #1 Rank stocks here.
OneWater Marine Inc. (ONEW - Free Report) is a premium recreational boat retailer functioning principally in the United States. It offers products and services, which include the sale of new and pre-owned boats, parts and accessories, finance and insurance products, maintenance and repair services, and ancillary services.
The company’s expected earnings growth rate for the current year is 54.9%. The Zacks Consensus Estimate for current-year earnings has improved 31.1% over the past 60 days. OneWater Marines sports a Zacks Rank #1.
Pool Corporation (POOL - Free Report) is the world's largest wholesale distributor of swimming pool supplies, equipment and related products. In addition, the company is a leading regional wholesale distributor of irrigation and landscape products.
The company’s expected earnings growth rate for the current year is 38.4%. The Zacks Consensus Estimate for current-year earnings has improved 22.8% over the past 60 days. Pool Corporation has a Zacks Rank #1.
Mastercraft Boat Holdings, Inc. (MCFT - Free Report) designs, manufactures and markets recreational powerboats through its subsidiaries. The company's operating segment consists of MasterCraft and NauticStar.
The company’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 18.6% over the past 60 days. Mastercraft Boat carries a Zacks Rank #2.
YETI Holdings, Inc. (YETI - Free Report) designs, markets and distributes products for the outdoor and recreation market under YETI brand primarily in the United States. The company's products are designed for use in outdoor activities, including hunting, fishing, camping, barbecue, and farm and ranch activities among others.
The company’s expected earnings growth rate for the current year is 26.2%. The Zacks Consensus Estimate for current-year earnings has improved 8.8% over the past 60 days. The company has a Zacks Rank #2.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>