Is PIGEON CORP (PGENY) Stock Outpacing Its Consumer Discretionary Peers This Year?

Zacks
08 Oct 2024

For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Is PIGEON CORP (PGENY) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question.

PIGEON CORP is a member of our Consumer Discretionary group, which includes 272 different companies and currently sits at #8 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. PIGEON CORP is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for PGENY's full-year earnings has moved 22.2% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, PGENY has moved about 7.2% on a year-to-date basis. At the same time, Consumer Discretionary stocks have gained an average of 3.2%. This means that PIGEON CORP is outperforming the sector as a whole this year.

One other Consumer Discretionary stock that has outperformed the sector so far this year is Adtalem Global Education (ATGE). The stock is up 23.1% year-to-date.

For Adtalem Global Education, the consensus EPS estimate for the current year has increased 0.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, PIGEON CORP is a member of the Consumer Products - Discretionary industry, which includes 25 individual companies and currently sits at #61 in the Zacks Industry Rank. This group has gained an average of 16.3% so far this year, so PGENY is slightly underperforming its industry in this area.

In contrast, Adtalem Global Education falls under the Schools industry. Currently, this industry has 17 stocks and is ranked #103. Since the beginning of the year, the industry has moved +8.4%.

Investors with an interest in Consumer Discretionary stocks should continue to track PIGEON CORP and Adtalem Global Education. These stocks will be looking to continue their solid performance.

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