Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Is NIKE (NKE - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question.
NIKE is a member of the Consumer Discretionary sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #6. 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 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. NKE is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NKE's full-year earnings has moved 0.11% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, NKE has returned 15.90% so far this year. Meanwhile, the Consumer Discretionary sector has returned an average of 14.52% on a year-to-date basis. As we can see, NIKE is performing better than its sector in the calendar year.
To break things down more, NKE belongs to the Shoes and Retail Apparel industry, a group that includes 13 individual companies and currently sits at #24 in the Zacks Industry Rank. This group has gained an average of 16.36% so far this year, so NKE is slightly underperforming its industry in this area.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to NKE as it looks to continue its solid performance.