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Is GoPro (GPRO) Stock Outpacing Its Consumer Discretionary Peers This Year?


Investors focused on the Consumer Discretionary space have likely heard of GoPro (GPRO), but is the stock performing well in comparison to the rest of its sector peers? 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.

GoPro is a member of our Consumer Discretionary group, which includes 244 different companies and currently sits at #6 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 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. GPRO is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for GPRO’s full-year earnings has moved 130.77% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Our latest available data shows that GPRO has returned about 41.51% since the start of the calendar year. In comparison, Consumer Discretionary companies have returned an average of 17.88%. This means that GoPro is performing better than its sector in terms of year-to-date returns.

To break things down more, GPRO belongs to the Audio Video Production industry, a group that includes 7 individual companies and currently sits at #41 in the Zacks Industry Rank. Stocks in this group have gained about 2.48% so far this year, so GPRO is performing better this group in terms of year-to-date returns.

Investors in the Consumer Discretionary sector will want to keep a close eye on GPRO as it attempts to continue its solid performance.

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