For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Cable One (CABO) 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.
Cable One is a member of our Consumer Discretionary group, which includes 240 different companies and currently sits at #5 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. CABO is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CABO's full-year earnings has moved 1.12% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that CABO has returned about 11.09% since the start of the calendar year. At the same time, Consumer Discretionary stocks have lost an average of 27.47%. This shows that Cable One is outperforming its peers so far this year.
To break things down more, CABO belongs to the Cable Television industry, a group that includes 11 individual companies and currently sits at #23 in the Zacks Industry Rank. On average, this group has lost an average of 16.96% so far this year, meaning that CABO is performing better in terms of year-to-date returns.
CABO 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.