Is Skechers U.S.A. (SKX) Outperforming Other Consumer Discretionary Stocks This Year?
Investors focused on the Consumer Discretionary space have likely heard of Skechers U.S.A. (SKX), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Skechers U.S.A. is a member of the Consumer Discretionary sector. This group includes 244 individual stocks and currently holds a Zacks Sector Rank of #13. 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. SKX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SKX's full-year earnings has moved 11.37% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, SKX has returned 59.55% so far this year. In comparison, Consumer Discretionary companies have returned an average of 15.07%. This means that Skechers U.S.A. is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SKX belongs to the Shoes and Retail Apparel industry, which includes 12 individual stocks and currently sits at #49 in the Zacks Industry Rank. On average, this group has gained an average of 24.08% so far this year, meaning that SKX is performing better in terms of year-to-date returns.
Investors with an interest in Consumer Discretionary stocks should continue to track SKX. The stock will be looking 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.