Is Planet Fitness (PLNT) Outperforming Other Consumer Discretionary Stocks This Year?
The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Planet Fitness (PLNT) 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.
Planet Fitness is a member of our Consumer Discretionary group, which includes 250 different companies and currently sits at #13 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. PLNT is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PLNT's full-year earnings has moved 0.55% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that PLNT has returned about 41.83% since the start of the calendar year. Meanwhile, stocks in the Consumer Discretionary group have gained about 24.52% on average. This shows that Planet Fitness is outperforming its peers so far this year.
To break things down more, PLNT belongs to the Leisure and Recreation Services industry, a group that includes 31 individual companies and currently sits at #153 in the Zacks Industry Rank. On average, this group has gained an average of 10.23% so far this year, meaning that PLNT is performing better in terms of year-to-date returns.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to PLNT as it looks to continue its solid performance.
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