Back to top

Image: Bigstock

Is Sonos (SONO) Stock Outpacing Its Consumer Discretionary Peers This Year?

Read MoreHide Full Article

Investors focused on the Consumer Discretionary space have likely heard of Sonos (SONO - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.

Sonos is one of 275 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #13 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. SONO is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for SONO's full-year earnings has moved 37.11% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, SONO has returned 36.04% so far this year. Meanwhile, stocks in the Consumer Discretionary group have lost about 7.60% on average. This means that Sonos is outperforming the sector as a whole this year.

Looking more specifically, SONO belongs to the Audio Video Production industry, which includes 9 individual stocks and currently sits at #26 in the Zacks Industry Rank. On average, this group has gained an average of 2.89% so far this year, meaning that SONO is performing better in terms of year-to-date returns.

SONO 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.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Sonos, Inc. (SONO) - free report >>

Published in