Investors focused on the Consumer Discretionary space have likely heard of Sleep Number (SNBR - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Sleep Number is one of 237 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. 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 82.97% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, SNBR has returned 1.77% so far this year. In comparison, Consumer Discretionary companies have returned an average of 0.36%. As we can see, Sleep Number is performing better than its sector in the calendar year.
Looking more specifically, SNBR belongs to the Furniture industry, which includes 8 individual stocks and currently sits at #5 in the Zacks Industry Rank. Stocks in this group have lost about 10.75% so far this year, so SNBR is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to SNBR as it looks to continue its solid performance.