Top Sports Stocks for Profitable Investment Opportunities
The sports industry has always been a lucrative sector, and even during the pandemic, it continued to thrive. For investors, this presents profitable investment opportunities and diversification. Sport stocks can encompass various aspects of the industry, from sport venues to sporting goods and even sports teams.
Here are some of the best investments among sport stocks, based on data collected on April 18:
1. Topgolf Callaway Brands:
– Past year: -31.43%
– Year to date: 8.30%
– Past month: 7.92%
The stock is traded on the New York Stock Exchange. Momentum for the stock is being driven by talks around a possible spinoff deal, where Topgolf would become an independent entertainment company, while the golf equipment business would be sold.
2. Draftkings:
– Past year: 98.97%
– Year to date: 18.09%
– Past month: -4.92%
Shares of online sports entertainment and gaming company DraftKings have been on a roll, with analysts predicting continued growth. CFRA Research has a Hold opinion on the stock, citing its strong position in mobile sports betting and gaming.
3. Churchill Downs:
– Past year: -7.20%
– Year to date: -11.90%
– Past month: 1.23%
Churchill Downs is set to release year-over-year earnings on April 24, with expectations of a decline. However, the stock could bounce higher if they exceed estimates.
4. Vail Resorts:
– Past year: -14.59%
– Year to date: 0.38%
– Past month: -4.74%
Several research analysts have a Buy rating on Vail Resorts, with target prices ranging from $248 to $290. Despite a decline in the past year, analysts are optimistic about its future performance.
5. Dick’s Sporting Goods:
– Past year: 37.16%
– Year to date: 33.06%
– Past month: -9.04%
Despite inflation affecting many retailers, Dick’s Sporting Goods has been performing well. Zacks recommends betting on retail stocks like Dick’s, which has a Buy opinion.
Overall, the sports industry continues to offer promising investment opportunities, with various sport stocks showing potential for growth and profitability. Investors looking to diversify their portfolios may find these stocks worth considering.
