Investors focused on the Consumer Discretionary space have likely heard of Super League Gaming (SLGG - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Super League Gaming 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 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 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. SLGG is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SLGG's full-year earnings has moved 65.60% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that SLGG has returned about 19.07% since the start of the calendar year. At the same time, Consumer Discretionary stocks have lost an average of 15.89%. This means that Super League Gaming is outperforming the sector as a whole this year.
To break things down more, SLGG belongs to the Gaming industry, a group that includes 25 individual companies and currently sits at #120 in the Zacks Industry Rank. This group has lost an average of 29.44% so far this year, so SLGG is performing better in this area.
SLGG 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.