For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Callaway Golf (ELY - Free Report) one of those stocks right now? 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.
Callaway Golf is one of 243 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #9 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 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. ELY is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ELY's full-year earnings has moved 22.66% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ELY has gained about 61.09% so far this year. Meanwhile, the Consumer Discretionary sector has returned an average of 6% on a year-to-date basis. This means that Callaway Golf is outperforming the sector as a whole this year.
Breaking things down more, ELY is a member of the Leisure and Recreation Products industry, which includes 14 individual companies and currently sits at #53 in the Zacks Industry Rank. On average, stocks in this group have gained 14.87% this year, meaning that ELY is performing better in terms of year-to-date returns.
ELY will likely be looking to continue its solid performance, so investors interested Consumer Discretionary stocks should continue to pay close attention to the company.