Has Best Buy Co. (BBY) Outpaced Other Retail-Wholesale Stocks This Year?
The Retail-Wholesale group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Best Buy Co. (BBY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Best Buy Co. is one of 223 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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).
The Zacks Consensus Estimate for BBY's full-year earnings has moved 2.70% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that BBY has returned about 38.92% since the start of the calendar year. Meanwhile, the Retail-Wholesale sector has returned an average of 17.37% on a year-to-date basis. This shows that Best Buy Co. is outperforming its peers so far this year.
Looking more specifically, BBY belongs to the Retail - Consumer Electronics industry, which includes 6 individual stocks and currently sits at #241 in the Zacks Industry Rank. On average, this group has gained an average of 31.48% so far this year, meaning that BBY is performing better in terms of year-to-date returns.
Investors in the Retail-Wholesale sector will want to keep a close eye on BBY as it attempts to continue its solid performance.
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