Investors focused on the Retail-Wholesale space have likely heard of MercadoLibre (MELI - 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 Retail-Wholesale peers, we might be able to answer that question.
MercadoLibre is one of 210 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #10 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 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. MELI is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MELI's full-year earnings has moved 15.95% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, MELI has moved about 35.90% on a year-to-date basis. At the same time, Retail-Wholesale stocks have gained an average of 2.37%. This means that MercadoLibre is performing better than its sector in terms of year-to-date returns.
Looking more specifically, MELI belongs to the Internet - Commerce industry, which includes 28 individual stocks and currently sits at #38 in the Zacks Industry Rank. On average, stocks in this group have gained 16.30% this year, meaning that MELI is performing better in terms of year-to-date returns.
Investors in the Retail-Wholesale sector will want to keep a close eye on MELI as it attempts to continue its solid performance.