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Has Sonos (SONO) Outpaced Other Consumer Discretionary Stocks This Year?

Zacks Equity Research
·2-min read

Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Is Sonos (SONO) one of those stocks right now? 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.

Sonos is one of 273 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 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. SONO is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for SONO's full-year earnings has moved 38.20% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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According to our latest data, SONO has moved about 40.27% on a year-to-date basis. Meanwhile, the Consumer Discretionary sector has returned an average of -5.97% on a year-to-date basis. This means that Sonos is outperforming the sector as a whole this year.

Looking more specifically, SONO belongs to the Audio Video Production industry, which includes 9 individual stocks and currently sits at #23 in the Zacks Industry Rank. Stocks in this group have gained about 8.10% so far this year, so SONO is performing better this group 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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