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Has NIKE (NKE) Outpaced Other Consumer Discretionary Stocks This Year?

Zacks Equity Research
Updated
Vanda (VNDA) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Is NIKE (NKE) one of those stocks right now? 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.

NIKE is one of 246 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #10 within 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).

Over the past 90 days, the Zacks Consensus Estimate for NKE's full-year earnings has moved 0.93% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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According to our latest data, NKE has moved about 18.72% on a year-to-date basis. At the same time, Consumer Discretionary stocks have gained an average of 6.15%. This shows that NIKE is outperforming its peers so far this year.

Breaking things down more, NKE is a member of the Shoes and Retail Apparel industry, which includes 15 individual companies and currently sits at #30 in the Zacks Industry Rank. On average, this group has gained an average of 15.74% so far this year, meaning that NKE 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 NKE as it looks to continue its solid performance.


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