Is Hibbett Sports (HIBB) Stock Outpacing Its Retail-Wholesale Peers This Year?
Investors focused on the Retail-Wholesale space have likely heard of Hibbett Sports (HIBB), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of HIBB and the rest of the Retail-Wholesale group's stocks.
Hibbett Sports is one of 224 companies in the Retail-Wholesale group. The Retail-Wholesale group currently sits at #2 within 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 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. HIBB is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for HIBB's full-year earnings has moved 5.80% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, HIBB has gained about 85.59% so far this year. Meanwhile, stocks in the Retail-Wholesale group have gained about 21.98% on average. As we can see, Hibbett Sports is performing better than its sector in the calendar year.
Breaking things down more, HIBB is a member of the Retail - Miscellaneous industry, which includes 17 individual companies and currently sits at #147 in the Zacks Industry Rank. On average, this group has gained an average of 11.91% so far this year, meaning that HIBB is performing better in terms of year-to-date returns.
HIBB 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.