The sporting goods industry is booming.

Here's our explanation: The economy is improving, employment is up, the winter has been unseasonably warm, and summer is fast approaching. It's a fine time to plan that long overdue fishing trip with the guys or take the family camping. A meeting on the golf course sounds like a great idea, too -- better get the latest and greatest clubs to improve your game.

The eight largest sporting good stocks have been doing extremely well in the last year, up an average of 45.84%, and 35.43% year to date. Sporting good stores have also benefited. In the past year the six largest have grown by an average of 18.85%, and 23.49% year-to-date.

Noteworthy
The top winners include Sturm, Ruger & Co. (NYSE: RGR), the maker of firearms for the consumer sporting market. Their line includes single-shot, autoloading, bolt-action, and sporting rifles; shotguns; rimfire autoloading and centerfire autoloading pistols; and single-action and double-action revolvers. The company has done especially well thanks to customers who fear President Obama will enforce stricter firearm regulations if re-elected.

Next up is Adam's Golf, up 103% for the year, and 66.41% year to date. Perhaps this year's Master's tournament helped the hype. The company has exhibited strong earnings-per-share growth and extremely low debt levels. Net income increased by 444.03% from the first quarter one year ago. It was recently upgraded by TheStreet Ratings from hold to buy.

Johnson Outdoors produces seasonal outdoor recreation products used primarily for fishing, diving, paddling, and camping. Its share price is up 33.49% in the past year, and 26.71% YTD.

Business section: Investing ideas
Here's a detailed list of the largest sporting goods stocks trading on the U.S exchanges. Collectively, they have far outperformed the S&P 500 index. Do you think they have more upside to price in?

(Click here to access free, interactive tools to analyze these ideas.)

1. Escalade: Engages in the manufacture and sale of sporting goods, as well as information security and print finishing solutions primarily in the United States, Mexico, Europe, and Asia. The company has a market cap of $67.41 million. It's been a rough couple of days for the stock; it lost 9.83% over the last week.

2. Nautilus: Together with its subsidiaries, the company operates as a consumer fitness products company primarily in the United States and Canada. The company has a market cap of $79.95 million. This is a risky stock that is significantly more volatile than the overall market (beta of 3.07). It's been a rough couple of days for the stock, losing 7.8% over the last week.

3. Adams Golf: Together with its subsidiaries, the company designs, assembles, markets, and distributes golf clubs for various skill levels primarily in the United States and internationally. The company has a market cap of $85.89 million. The stock has gained 103.21% over the last year.

4. Johnson Outdoors: Engages in the design, manufacture, and marketing of outdoor recreation products worldwide. The company has a market cap of $191.97 million. The stock has had a good month, gaining 16.26%.

5. Black Diamond (NYSE: BDE): Develops, manufactures, and distributes outdoor recreation equipment and active lifestyle products in the United States and internationally. The company has a market cap of $290.85 million. Relatively low correlation to the market (beta of 0.47), which may be appealing to risk-averse investors. The stock is a short squeeze candidate, with a short float at 5.29% (equivalent to 11.5 days of average volume). The stock has gained 39% over the last year.

6. Callaway Golf (NYSE: ELY): Designs, manufactures, and sells golf clubs and golf balls. The company has a market cap of 425.95 million. The stock is a short squeeze candidate, with a short float at 17.46% (equivalent to 21.38 days of average volume). It's been a rough couple of days for the stock, losing 5.89% over the last week.

7. Sturm, Ruger & Co.: Engages in the design, manufacture, and sale of firearms in the United States. The company has a market cap of $952.71 million. Relatively low correlation to the market (beta of 0.23), which may be appealing to risk-averse investors. The stock is a short squeeze candidate, with a short float at 11.03% (equivalent to 6.15 days of average volume). The stock has had a good month, gaining 16.57%.

8. Pool Corp.: Operates as a wholesale distributor of swimming pool supplies, equipment, and related leisure products in North America and Europe. The company has a market cap of $1.82 billion. The stock is a short squeeze candidate, with a short float at 5.46% (equivalent to 12.01 days of average volume). The stock has gained 54.14% over the last year.

9. Golfsmith International Holdings: Operates as a specialty retailer of golf and tennis equipment, apparel, footwear, and accessories. The company has a market cap of $69.92 million. The stock has lost 8.11% over the last year.

10. Dreams: Engages in the manufacturing, distributing, retailing, and selling sports licensed products, memorabilia, and acrylic display cases through various channels, including Internet, brick-and-mortar, catalogue, kiosks, and trade shows in North America. The company has a market cap of $116.56 million. It's exhibiting strong upside momentum, currently trading 21.02% above its 20-day simple moving average, 28.84% above its 50-day SMA, and 47.51% above its 200-day SMA. The stock has gained 25.48% over the last year.

11. Big 5 Sporting Goods: Operates as a sporting goods retailer in the Western United States. The company has a market cap of $167.91 million. It's been a rough couple of days for the stock, losing 5.39% over the last week.

12. Hibbett Sports (Nasdaq: HIBB): The company operates sporting goods stores in small to mid-sized markets primarily in the Southeast, Southwest, Mid-Atlantic, and the Midwest regions of the United States. The company has a market cap of $1.44 billion. The stock is a short squeeze candidate, with a short float at 13.66% (equivalent to 13.51 days of average volume). The stock has gained 51.35% over the last year.

13. Cabela's (NYSE: CAB): Operates as a specialty retailer and direct marketer of hunting, fishing, camping, and related outdoor merchandise. The company has a market cap of $2.64 billion. The stock is a short squeeze candidate, with a short float at 8.56% (equivalent to 5.77 days of average volume). The stock has gained 52.36% over the last year.

14. Dick's Sporting Goods: Operates as a sporting goods retailer in the United States. The company has a market cap of $6.01 billion. The stock is a short squeeze candidate, with a short float at 8.07% (equivalent to 5.05 days of average volume). The stock has gained 23.31% over the last year.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned above. Analyst ratings sourced from Zacks Investment Research.