Is Mohawk Industries (MHK) Stock Outpacing Its Consumer Discretionary Peers This Year?
The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Mohawk Industries (MHK) 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.
Mohawk Industries is a member of the Consumer Discretionary sector. This group includes 277 individual stocks and currently holds a Zacks Sector Rank of #10. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Mohawk Industries is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MHK's full-year earnings has moved 3.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, MHK has gained about 45% so far this year. Meanwhile, stocks in the Consumer Discretionary group have gained about 3.2% on average. This means that Mohawk Industries is performing better than its sector in terms of year-to-date returns.
One other Consumer Discretionary stock that has outperformed the sector so far this year is WideOpenWest (WOW). The stock is up 32.1% year-to-date.
For WideOpenWest, the consensus EPS estimate for the current year has increased 18.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Mohawk Industries belongs to the Textile - Home Furnishing industry, a group that includes 4 individual companies and currently sits at #3 in the Zacks Industry Rank. Stocks in this group have gained about 43.2% so far this year, so MHK is performing better this group in terms of year-to-date returns.
WideOpenWest, however, belongs to the Cable Television industry. Currently, this 9-stock industry is ranked #48. The industry has moved -11.3% so far this year.
Investors with an interest in Consumer Discretionary stocks should continue to track Mohawk Industries and WideOpenWest. These stocks will be looking to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Mohawk Industries, Inc. (MHK) : Free Stock Analysis Report
WideOpenWest, Inc. (WOW) : Free Stock Analysis Report