Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Has Sleep Number (SNBR) been one of those stocks this year? 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.
Sleep Number is one of 238 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. 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. SNBR is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SNBR's full-year earnings has moved 16.76% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SNBR has gained about 0.69% so far this year. In comparison, Consumer Discretionary companies have returned an average of -9.74%. This shows that Sleep Number is outperforming its peers so far this year.
Looking more specifically, SNBR belongs to the Furniture industry, a group that includes 7 individual stocks and currently sits at #53 in the Zacks Industry Rank. On average, this group has lost an average of 24.35% so far this year, meaning that SNBR is performing better in terms of year-to-date returns.
Investors in the Consumer Discretionary sector will want to keep a close eye on SNBR as it attempts to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.