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

Zacks Equity Research
·2 min read

The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Sleep Number (SNBR) one of those stocks right now? 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.

Sleep Number is one of 238 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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

The Zacks Consensus Estimate for SNBR's full-year earnings has moved 46.56% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that SNBR has returned about 32.01% since the start of the calendar year. Meanwhile, stocks in the Consumer Discretionary group have lost about 1.24% on average. 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, a group that includes 7 individual stocks and currently sits at #87 in the Zacks Industry Rank. On average, this group has lost an average of 11.57% 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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