The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Casa Systems (CASA - 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.
Casa Systems is one of 240 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 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. CASA is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CASA's full-year earnings has moved 20% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CASA has moved about 2.69% on a year-to-date basis. At the same time, Consumer Discretionary stocks have lost an average of 15.47%. This means that Casa Systems is outperforming the sector as a whole this year.
Looking more specifically, CASA belongs to the Cable Television industry, which includes 11 individual stocks and currently sits at #83 in the Zacks Industry Rank. On average, this group has lost an average of 6.42% so far this year, meaning that CASA is performing better in terms of year-to-date returns.
CASA 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.