Investors focused on the Retail-Wholesale space have likely heard of Best Buy Co. (BBY - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Best Buy Co. is one of 217 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. BBY is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BBY's full-year earnings has moved 3.42% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that BBY has returned about 3.25% since the start of the calendar year. In comparison, Retail-Wholesale companies have returned an average of 1.68%. This shows that Best Buy Co. is outperforming its peers so far this year.
To break things down more, BBY belongs to the Retail - Consumer Electronics industry, a group that includes 5 individual companies and currently sits at #229 in the Zacks Industry Rank. Stocks in this group have gained about 2.39% so far this year, so BBY is performing better this group in terms of year-to-date returns.
BBY will likely be looking to continue its solid performance, so investors interested in Retail-Wholesale stocks should continue to pay close attention to the company.