Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. OneWater Marine (ONEW – Free Report) 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? Let’s take a closer look at the stock’s year-to-date performance to find out.
OneWater Marine is a member of our Consumer Discretionary group, which includes 268 different companies and currently sits at #11 in 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. OneWater Marine is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ONEW’s full-year earnings has moved 9% higher within the past quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, ONEW has moved about 0.9% on a year-to-date basis. In comparison, Consumer Discretionary companies have returned an average of -2.8%. This means that OneWater Marine is outperforming the sector as a whole this year.
Another stock in the Consumer Discretionary sector, PIGEON CORP (PGENY – Free Report) , has outperformed the sector so far this year. The stock’s year-to-date return is 49.9%.
Over the past three months, PIGEON CORP’s consensus EPS estimate for the current year has increased 4.4%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, OneWater Marine is a member of the Leisure and Recreation Products industry, which includes 23 individual companies and currently sits at #176 in the Zacks Industry Rank. Stocks in this group have gained about 3.1% so far this year, so ONEW is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, PIGEON CORP falls under the Consumer Products – Discretionary industry. Currently, this industry has 25 stocks and is ranked #157. Since the beginning of the year, the industry has moved -6.9%.
Investors with an interest in Consumer Discretionary stocks should continue to track OneWater Marine and PIGEON CORP. These stocks will be looking to continue their solid performance.
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