Investors focused on the Retail-Wholesale space have likely heard of MercadoLibre (MELI - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of MELI and the rest of the Retail-Wholesale group's stocks.
MercadoLibre is a member of the Retail-Wholesale sector. This group includes 225 individual stocks and currently holds a Zacks Sector Rank of #9. 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. MELI is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MELI's full-year earnings has moved 75.08% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that MELI has returned about 96.20% since the start of the calendar year. Meanwhile, the Retail-Wholesale sector has returned an average of 14.59% on a year-to-date basis. This means that MercadoLibre is performing better than its sector in terms of year-to-date returns.
To break things down more, MELI belongs to the Internet - Commerce industry, a group that includes 28 individual companies and currently sits at #149 in the Zacks Industry Rank. On average, stocks in this group have gained 22.62% this year, meaning that MELI is performing better in terms of year-to-date returns.
Going forward, investors interested in Retail-Wholesale stocks should continue to pay close attention to MELI as it looks to continue its solid performance.