Investors focused on the Consumer Discretionary space have likely heard of Sonos (SONO), but is the stock performing well in comparison to the rest of its sector peers? 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.
Sonos is one of 273 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #13 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 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. SONO is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SONO’s full-year earnings has moved 38.20% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the most recent data, SONO has returned 47.07% so far this year. In comparison, Consumer Discretionary companies have returned an average of -4.10%. This means that Sonos is performing better than its sector in terms of year-to-date returns.
Breaking things down more, SONO is a member of the Audio Video Production industry, which includes 9 individual companies and currently sits at #50 in the Zacks Industry Rank. On average, this group has gained an average of 17.34% so far this year, meaning that SONO is performing better in terms of year-to-date returns.
SONO 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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