Investors focused on the Consumer Discretionary space have likely heard of NIKE (NKE - 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 NKE and the rest of the Consumer Discretionary group's stocks.
NIKE is a member of the Consumer Discretionary sector. This group includes 246 individual stocks and currently holds a Zacks Sector Rank of #11. 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 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. NKE is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NKE's full-year earnings has moved 1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, NKE has moved about 24.51% on a year-to-date basis. Meanwhile, stocks in the Consumer Discretionary group have gained about 15.56% on average. This means that NIKE is performing better than its sector in terms of year-to-date returns.
Looking more specifically, NKE belongs to the Shoes and Retail Apparel industry, which includes 12 individual stocks and currently sits at #41 in the Zacks Industry Rank. Stocks in this group have gained about 24.24% so far this year, so NKE is performing better this group in terms of year-to-date returns.
Investors with an interest in Consumer Discretionary stocks should continue to track NKE. The stock will be looking to continue its solid performance.