For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Has LRAD (GNSS) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
LRAD is one of 242 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. GNSS is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for GNSS's full-year earnings has moved 8.33% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that GNSS has returned about 5.20% since the start of the calendar year. In comparison, Consumer Discretionary companies have returned an average of -31.60%. As we can see, LRAD is performing better than its sector in the calendar year.
To break things down more, GNSS belongs to the Consumer Services - Miscellaneous industry, a group that includes 10 individual companies and currently sits at #57 in the Zacks Industry Rank. On average, stocks in this group have lost 37.31% this year, meaning that GNSS is performing better in terms of year-to-date returns.
Investors with an interest in Consumer Discretionary stocks should continue to track GNSS. The stock will be looking to continue its solid performance.