Investors focused on the Consumer Discretionary space have likely heard of Planet Fitness (PLNT), 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 Consumer Discretionary sector should help us answer this question.
Planet Fitness is one of 256 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #10 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 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. PLNT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PLNT's full-year earnings has moved 6.26% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, PLNT has returned 51.83% so far this year. Meanwhile, the Consumer Discretionary sector has returned an average of -10.77% on a year-to-date basis. This means that Planet Fitness is outperforming the sector as a whole this year.
Looking more specifically, PLNT belongs to the Leisure and Recreation Services industry, which includes 30 individual stocks and currently sits at #76 in the Zacks Industry Rank. On average, stocks in this group have lost 17.46% this year, meaning that PLNT is performing better in terms of year-to-date returns.
PLNT will likely be looking to continue its solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to the company.