Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Is Callaway Golf (CALY) 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.
Callaway Golf is a member of our Consumer Discretionary group, which includes 246 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Callaway Golf is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CALY's full-year earnings has moved 248.6% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CALY has returned about 22.9% since the start of the calendar year. In comparison, Consumer Discretionary companies have returned an average of -3.7%. This shows that Callaway Golf is outperforming its peers so far this year.
One other Consumer Discretionary stock that has outperformed the sector so far this year is Legget & Platt (LEG). The stock is up 4.6% year-to-date.
The consensus estimate for Legget & Platt's current year EPS has increased 1.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Callaway Golf belongs to the Leisure and Recreation Products industry, a group that includes 21 individual stocks and currently sits at #38 in the Zacks Industry Rank. On average, this group has gained an average of 0.5% so far this year, meaning that CALY is performing better in terms of year-to-date returns.
In contrast, Legget & Platt falls under the Furniture industry. Currently, this industry has 8 stocks and is ranked #214. Since the beginning of the year, the industry has moved -9.9%.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to Callaway Golf and Legget & Platt as they could maintain their solid performance.
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Callaway Golf Company (CALY): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).