Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Has Planet Fitness (PLNT - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Planet Fitness is a member of our Consumer Discretionary group, which includes 244 different companies and currently sits at #9 in 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 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. PLNT is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PLNT's full-year earnings has moved 7.71% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that PLNT has returned about 38.36% since the start of the calendar year. At the same time, Consumer Discretionary stocks have gained an average of 20.13%. This means that Planet Fitness is outperforming the sector as a whole this year.
Looking more specifically, PLNT belongs to the Leisure and Recreation Services industry, a group that includes 29 individual stocks and currently sits at #194 in the Zacks Industry Rank. On average, stocks in this group have gained 17.15% this year, meaning that PLNT is performing better in terms of year-to-date returns.
Investors in the Consumer Discretionary sector will want to keep a close eye on PLNT as it attempts to continue its solid performance.