Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Flexsteel Industries (FLXS) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Flexsteel Industries is a member of our Consumer Discretionary group, which includes 246 different companies and currently sits at #5 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 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 31.4% 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 41.8% on a year-to-date basis. Meanwhile, stocks in the Consumer Discretionary group have lost about 7.4% on average. This shows that Flexsteel Industries is outperforming its peers so far this year.
One other Consumer Discretionary stock that has outperformed the sector so far this year is Hasbro (HAS). The stock is up 16.5% year-to-date.
In Hasbro's case, the consensus EPS estimate for the current year increased 5.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Flexsteel Industries belongs to the Furniture industry, a group that includes 8 individual stocks and currently sits at #212 in the Zacks Industry Rank. Stocks in this group have lost about 6% so far this year, so FLXS is performing better this group in terms of year-to-date returns.
On the other hand, Hasbro belongs to the Toys - Games - Hobbies industry. This 3-stock industry is currently ranked #96. The industry has moved +3.1% year to date.
Flexsteel Industries and Hasbro could continue their solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to these stocks.
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This article originally published on Zacks Investment Research (zacks.com).