The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Imax (IMAX – Free Report) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.
Imax is a member of the Consumer Discretionary sector. This group includes 272 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Imax is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for IMAX’s full-year earnings has moved 11.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the most recent data, IMAX has returned 68.2% so far this year. In comparison, Consumer Discretionary companies have returned an average of 13.9%. As we can see, Imax is performing better than its sector in the calendar year.
Kontoor Brands (KTB – Free Report) is another Consumer Discretionary stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 38.1%.
The consensus estimate for Kontoor Brands’ current year EPS has increased 0.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Imax belongs to the Film and Television Production and Distribution industry, a group that includes 7 individual companies and currently sits at #64 in the Zacks Industry Rank. On average, stocks in this group have gained 22.1% this year, meaning that IMAX is performing better in terms of year-to-date returns.
In contrast, Kontoor Brands falls under the Textile – Apparel industry. Currently, this industry has 20 stocks and is ranked #55. Since the beginning of the year, the industry has moved -5.6%.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to Imax and Kontoor Brands as they could maintain their solid performance.
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