Investors focused on the Consumer Discretionary space have likely heard of Skechers U.S.A. (SKX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Skechers U.S.A. is a member of our Consumer Discretionary group, which includes 244 different companies and currently sits at #10 in the Zacks Sector Rank. 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 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. SKX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for SKX's full-year earnings has moved 3.84% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SKX has moved about 62.47% on a year-to-date basis. Meanwhile, stocks in the Consumer Discretionary group have gained about 17.75% on average. This shows that Skechers U.S.A. is outperforming its peers so far this year.
Looking more specifically, SKX belongs to the Shoes and Retail Apparel industry, a group that includes 12 individual stocks and currently sits at #29 in the Zacks Industry Rank. On average, this group has gained an average of 29.11% so far this year, meaning that SKX is performing better in terms of year-to-date returns.
Investors in the Consumer Discretionary sector will want to keep a close eye on SKX as it attempts to continue its solid performance.