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Has Sleep Number (SNBR) Outpaced Other Consumer Discretionary Stocks This Year?

Investors focused on the Consumer Discretionary space have likely heard of Sleep Number (SNBR), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of SNBR and the rest of the Consumer Discretionary group's stocks.

Sleep Number is one of 255 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #6 within 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 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. SNBR is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for SNBR's full-year earnings has moved 55.13% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, SNBR has moved about 37.70% on a year-to-date basis. Meanwhile, the Consumer Discretionary sector has returned an average of 1.41% on a year-to-date basis. This shows that Sleep Number is outperforming its peers so far this year.

Breaking things down more, SNBR is a member of the Furniture industry, which includes 8 individual companies and currently sits at #42 in the Zacks Industry Rank. On average, this group has gained an average of 20.11% so far this year, meaning that SNBR is performing better 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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