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Is Sonos (SONO) Stock Outpacing Its Consumer Discretionary Peers This Year?
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Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Is Sonos (SONO - Free Report) one of those stocks right now? 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.
Sonos is one of 274 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #8 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 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. Sonos is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SONO's full-year earnings has moved 10.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, SONO has moved about 27.3% on a year-to-date basis. In comparison, Consumer Discretionary companies have returned an average of -10.7%. This means that Sonos is outperforming the sector as a whole this year.
Another stock in the Consumer Discretionary sector, Under Armour (UAA - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 39.7%.
Over the past three months, Under Armour's consensus EPS estimate for the current year has increased 37.6%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Sonos belongs to the Audio Video Production industry, a group that includes 9 individual stocks and currently sits at #100 in the Zacks Industry Rank. On average, this group has gained an average of 14.6% so far this year, meaning that SONO is performing better in terms of year-to-date returns.
In contrast, Under Armour falls under the Textile - Apparel industry. Currently, this industry has 22 stocks and is ranked #48. Since the beginning of the year, the industry has moved +18.3%.
Sonos and Under Armour could continue their solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to these stocks.
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Is Sonos (SONO) Stock Outpacing Its Consumer Discretionary Peers This Year?
Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Is Sonos (SONO - Free Report) one of those stocks right now? 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.
Sonos is one of 274 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #8 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 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. Sonos is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SONO's full-year earnings has moved 10.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, SONO has moved about 27.3% on a year-to-date basis. In comparison, Consumer Discretionary companies have returned an average of -10.7%. This means that Sonos is outperforming the sector as a whole this year.
Another stock in the Consumer Discretionary sector, Under Armour (UAA - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 39.7%.
Over the past three months, Under Armour's consensus EPS estimate for the current year has increased 37.6%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Sonos belongs to the Audio Video Production industry, a group that includes 9 individual stocks and currently sits at #100 in the Zacks Industry Rank. On average, this group has gained an average of 14.6% so far this year, meaning that SONO is performing better in terms of year-to-date returns.
In contrast, Under Armour falls under the Textile - Apparel industry. Currently, this industry has 22 stocks and is ranked #48. Since the beginning of the year, the industry has moved +18.3%.
Sonos and Under Armour could continue their solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to these stocks.