Investors focused on the Consumer Discretionary space have likely heard of Sleep Number (NASDAQ:SNBR), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Consumer Discretionary sector should help us answer this question.
Sleep Number is one of 239 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. SNBR is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SNBR's full-year earnings has moved 46.56% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, SNBR has returned 39.87% so far this year. In comparison, Consumer Discretionary companies have returned an average of 10.18%. As we can see, Sleep Number is performing better than its sector in the calendar year.
Looking more specifically, SNBR belongs to the Furniture industry, which includes 7 individual stocks and currently sits at #19 in the Zacks Industry Rank. Stocks in this group have lost about 8.28% so far this year, so SNBR is performing better this group in terms of year-to-date returns.
SNBR 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.
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