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Is Sleep Number (SNBR) Outperforming Other Consumer Discretionary Stocks This Year?

Investors focused on the Consumer Discretionary space have likely heard of Sleep Number (SNBR), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

Sleep Number is one of 237 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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 #2 (Buy).

The Zacks Consensus Estimate for SNBR's full-year earnings has moved 77.65% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that SNBR has returned about 0.45% since the start of the calendar year. At the same time, Consumer Discretionary stocks have lost an average of 3%. This means that Sleep Number is performing better than its sector in terms of year-to-date returns.

Breaking things down more, SNBR is a member of the Furniture industry, which includes 8 individual companies and currently sits at #28 in the Zacks Industry Rank. Stocks in this group have lost about 14.36% so far this year, so SNBR is performing better this group in terms of year-to-date returns.

SNBR will likely be looking to continue its solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to the company.


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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.

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