The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Hanesbrands (HBI - Free Report) 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.
Hanesbrands is a member of our Consumer Discretionary group, which includes 237 different companies and currently sits at #10 in 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. HBI is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for HBI's full-year earnings has moved 142.78% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, HBI has moved about 2.90% on a year-to-date basis. In comparison, Consumer Discretionary companies have returned an average of -3.25%. This means that Hanesbrands is outperforming the sector as a whole this year.
Looking more specifically, HBI belongs to the Textile - Apparel industry, a group that includes 20 individual stocks and currently sits at #114 in the Zacks Industry Rank. On average, stocks in this group have lost 13.88% this year, meaning that HBI is performing better in terms of year-to-date returns.
HBI 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.