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Is Sleep Number (SNBR) Stock Outpacing Its Consumer Discretionary Peers This Year?

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 Sleep Number (SNBR) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Sleep Number is one of 239 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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. SNBR is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for SNBR's full-year earnings has moved 46.56% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that SNBR has returned about 27.56% since the start of the calendar year. In comparison, Consumer Discretionary companies have returned an average of 2.54%. This means that Sleep Number is performing better than its sector in terms of year-to-date returns.

Looking more specifically, SNBR belongs to the Furniture industry, a group that includes 7 individual stocks and currently sits at #127 in the Zacks Industry Rank. Stocks in this group have lost about 9.66% so far this year, so SNBR is performing better this group in terms of year-to-date returns.

Investors in the Consumer Discretionary sector will want to keep a close eye on SNBR as it attempts to continue its solid performance.


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