The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Planet Fitness (PLNT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of PLNT and the rest of the Consumer Discretionary group's stocks.
Planet Fitness is one of 244 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #13 within 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 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. PLNT is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for PLNT's full-year earnings has moved 1.24% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that PLNT has returned about 7.93% since the start of the calendar year. Meanwhile, the Consumer Discretionary sector has returned an average of 16.62% on a year-to-date basis. This means that Planet Fitness is outperforming the sector as a whole this year.
Breaking things down more, PLNT is a member of the Leisure and Recreation Services industry, which includes 31 individual companies and currently sits at #170 in the Zacks Industry Rank. On average, stocks in this group have gained 1.16% this year, meaning that PLNT is performing better in terms of year-to-date returns.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to PLNT as it looks to continue its solid performance.