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Are Consumer Discretionary Stocks Lagging Boyd Gaming (BYD) This Year?
The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Boyd Gaming (BYD - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Discretionary sector should help us answer this question.
Boyd Gaming is one of 280 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #10 within the Zacks Sector Rank. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Boyd Gaming is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BYD's full-year earnings has moved 8.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BYD has moved about 12.2% on a year-to-date basis. Meanwhile, stocks in the Consumer Discretionary group have gained about 6.2% on average. This shows that Boyd Gaming is outperforming its peers so far this year.
DraftKings (DKNG - Free Report) is another Consumer Discretionary stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 54.6%.
For DraftKings, the consensus EPS estimate for the current year has increased 17.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Boyd Gaming belongs to the Gaming industry, a group that includes 41 individual stocks and currently sits at #70 in the Zacks Industry Rank. This group has gained an average of 19.3% so far this year, so BYD is slightly underperforming its industry in this area. DraftKings is also part of the same industry.
Investors with an interest in Consumer Discretionary stocks should continue to track Boyd Gaming and DraftKings. These stocks will be looking to continue their solid performance.