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? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Discretionary sector should help us answer this question.
NIKE is a member of our Consumer Discretionary group, which includes 241 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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).
The Zacks Consensus Estimate for NKE's full-year earnings has moved 1.37% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, NKE has returned 3.18% so far this year. In comparison, Consumer Discretionary companies have returned an average of 2.76%. This means that NIKE is outperforming the sector as a whole this year.
To break things down more, NKE belongs to the Shoes and Retail Apparel industry, a group that includes 13 individual companies and currently sits at #101 in the Zacks Industry Rank. This group has gained an average of 2.67% so far this year, so NKE is performing better in this area.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to NKE as it looks to continue its solid performance.