Investors focused on the Consumer Discretionary space have likely heard of Roku (ROKU), 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.
Roku is one of 244 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #7 within 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. ROKU is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ROKU's full-year earnings has moved 13.72% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ROKU has moved about 232.47% on a year-to-date basis. Meanwhile, stocks in the Consumer Discretionary group have gained about 18.13% on average. This means that Roku is outperforming the sector as a whole this year.
To break things down more, ROKU belongs to the Broadcast Radio and Television industry, a group that includes 26 individual companies and currently sits at #76 in the Zacks Industry Rank. This group has gained an average of 23.38% so far this year, so ROKU is performing better in this area.
Going forward, investors interested in Consumer Discretionary stocks should continue to pay close attention to ROKU as it looks to continue its solid performance.
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