For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Bowlero Corp. (BOWL) been one of those stocks this year? 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.
Bowlero Corp. is one of 284 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #15 in the Zacks Sector Rank. 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 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. Bowlero Corp. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BOWL’s full-year earnings has moved 2.9% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Our latest available data shows that BOWL has returned about 42.9% since the start of the calendar year. Meanwhile, stocks in the Consumer Discretionary group have lost about 36% on average. As we can see, Bowlero Corp. is performing better than its sector in the calendar year.
iQIYI, Inc. Sponsored ADR (IQ) is another Consumer Discretionary stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 2.9%.
For iQIYI, Inc. Sponsored ADR, the consensus EPS estimate for the current year has increased 100% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Bowlero Corp. belongs to the Leisure and Recreation Services industry, a group that includes 31 individual companies and currently sits at #140 in the Zacks Industry Rank. On average, this group has lost an average of 38.7% so far this year, meaning that BOWL is performing better in terms of year-to-date returns.
On the other hand, iQIYI, Inc. Sponsored ADR belongs to the Film and Television Production and Distribution industry. This 8-stock industry is currently ranked #78. The industry has moved -18.7% year to date.
Bowlero Corp. and iQIYI, Inc. Sponsored ADR could continue their solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to these stocks.
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