Is Best Buy Co. (BBY) Stock Outpacing Its Retail-Wholesale Peers This Year?
Investors focused on the Retail-Wholesale space have likely heard of Best Buy Co. (BBY), 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 Retail-Wholesale sector should help us answer this question.
Best Buy Co. is a member of our Retail-Wholesale group, which includes 207 different companies and currently sits at #3 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 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 19.30% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that BBY has returned about 9.43% since the start of the calendar year. Meanwhile, the Retail-Wholesale sector has returned an average of 22.38% on a year-to-date basis. As we can see, Best Buy Co. is performing better than its sector in the calendar year.
Looking more specifically, BBY belongs to the Retail - Consumer Electronics industry, a group that includes 6 individual stocks and currently sits at #19 in the Zacks Industry Rank. Stocks in this group have lost about 8.68% 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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.