Is SharkNinja, Inc. (SN) Stock Outpacing Its Consumer Discretionary Peers This Year?
The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. SharkNinja, Inc. (SN) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question.
SharkNinja, Inc. is a member of our Consumer Discretionary group, which includes 272 different companies and currently sits at #9 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. SharkNinja, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SN's full-year earnings has moved 11.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, SN has moved about 107.3% on a year-to-date basis. Meanwhile, stocks in the Consumer Discretionary group have gained about 7.6% on average. This means that SharkNinja, Inc. is outperforming the sector as a whole this year.
One other Consumer Discretionary stock that has outperformed the sector so far this year is Adidas AG (ADDYY). The stock is up 20.3% year-to-date.
The consensus estimate for Adidas AG's current year EPS has increased 5.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, SharkNinja, Inc. is a member of the Furniture industry, which includes 10 individual companies and currently sits at #193 in the Zacks Industry Rank. Stocks in this group have gained about 33.2% so far this year, so SN is performing better this group in terms of year-to-date returns.
Adidas AG, however, belongs to the Shoes and Retail Apparel industry. Currently, this 11-stock industry is ranked #171. The industry has moved -11.5% so far this year.
Investors with an interest in Consumer Discretionary stocks should continue to track SharkNinja, Inc. and Adidas AG. These stocks will be looking to continue their solid performance.
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