For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Flexsteel Industries (FLXS) been one of those stocks this year? 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.
Flexsteel Industries is one of 260 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #12 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Flexsteel Industries is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FLXS' full-year earnings has moved 4.8% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, FLXS has moved about 115.7% on a year-to-date basis. In comparison, Consumer Discretionary companies have returned an average of -11%. This means that Flexsteel Industries is outperforming the sector as a whole this year.
One other Consumer Discretionary stock that has outperformed the sector so far this year is GameSquare Holdings, Inc. (GAME). The stock is up 1% year-to-date.
The consensus estimate for GameSquare Holdings, Inc.'s current year EPS has increased 200% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Flexsteel Industries belongs to the Furniture industry, a group that includes 5 individual companies and currently sits at #195 in the Zacks Industry Rank. This group has lost an average of 17.3% so far this year, so FLXS is performing better in this area.
In contrast, GameSquare Holdings, Inc. falls under the Gaming industry. Currently, this industry has 42 stocks and is ranked #159. Since the beginning of the year, the industry has moved -32.9%.
Investors with an interest in Consumer Discretionary stocks should continue to track Flexsteel Industries and GameSquare Holdings, Inc.. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).