The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Flexsteel Industries (FLXS – Free Report) 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 272 different companies and currently sits at #6 in 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 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. Flexsteel Industries is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FLXS’ full-year earnings has moved 8.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, FLXS has moved about 206.7% on a year-to-date basis. Meanwhile, stocks in the Consumer Discretionary group have gained about 13.9% on average. This shows that Flexsteel Industries is outperforming its peers so far this year.
Another stock in the Consumer Discretionary sector, Paramount Global (PARAA – Free Report) , has outperformed the sector so far this year. The stock’s year-to-date return is 14.1%.
In Paramount Global’s case, the consensus EPS estimate for the current year increased 17.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Flexsteel Industries belongs to the Furniture industry, a group that includes 9 individual stocks and currently sits at #195 in the Zacks Industry Rank. On average, stocks in this group have lost 23.3% this year, meaning that FLXS is performing better in terms of year-to-date returns.
Paramount Global, however, belongs to the Media Conglomerates industry. Currently, this 13-stock industry is ranked #50. The industry has moved +20.4% so far this year.
Flexsteel Industries and Paramount Global 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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