Is Deckers Outdoor (DECK) Stock Outpacing Its Consumer Discretionary Peers This Year?
For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Deckers Outdoor (DECK) one of those stocks right now? 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.
Deckers Outdoor is a member of the Consumer Discretionary sector. This group includes 244 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DECK is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for DECK's full-year earnings has moved 1.53% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that DECK has returned about 36.30% since the start of the calendar year. At the same time, Consumer Discretionary stocks have gained an average of 21.39%. This means that Deckers Outdoor is performing better than its sector in terms of year-to-date returns.
Looking more specifically, DECK belongs to the Shoes and Retail Apparel industry, which includes 13 individual stocks and currently sits at #107 in the Zacks Industry Rank. This group has gained an average of 13.53% so far this year, so DECK is performing better in this area.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to DECK as it looks to continue its solid performance.
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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.