For those looking to find strong consumer discretionary stocks, it is prudent to look for group companies that outperform their peers. Is Bassett Furniture (BSET) one of those stocks right now? A quick look at the company’s year-to-date performance relative to the rest of the consumer discretionary sector should help answer that question.
Bassett Furniture is one of 290 companies in the Consumer Discretionary Group. The Consumer Discretionary group is currently ranked 12th in the Zacks sector rankings. The Zacks Sector Rankings include 16 different groups and are ranked from best to worst in terms of the average Zacks Ranking of individual companies in each of these sectors.
The Zacks ranking emphasizes earnings estimates and estimate revisions to find stocks with improved earnings prospects. This system has a long history of success, and these stocks tend to beat the market over the next one to three months. Bassett Furniture currently sports a Zacks rating of #1 (Strong Buy).
The Zacks consensus estimate for BSET’s annual earnings rose 22.9% in the last quarter. This is a sign of improving analyst sentiment and a positive trend in the earnings outlook.
Based on the most recent data, BSET has returned 25.8% so far this year. By comparison, consumer discretionary companies posted an average return of -29.2%. This means that Bassett Furniture has outperformed its sector in terms of returns year to date.
Another consumer discretionary stock, LiveOne (LVO), has outperformed the sector so far this year. The return on the share since the beginning of the year is 9.4%.
For LiveOne, the current-year EPS consensus estimate rose 84.4% over the past three months. The stock currently has a Zacks rank #2 (buy).
Specifically, Bassett Furniture belongs to the furniture industry, a group that includes 8 individual stocks and is currently ranked 56th in the Zacks industry rankings. On average, this group has lost an average of 6.6% so far this year, which means that BSET is showing better results in terms of returns since the start of the year.
LiveOne, however, belongs to the audio-video production industry. Currently, this 9-stock industry is ranked #180. The industry is up -31.8% so far this year.
Bassett Furniture and LiveOne may continue their strong performance, so investors interested in consumer discretionary stocks should continue to pay close attention to these stocks.
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Bassett Furniture Industries, Incorporated (BSET): Free Inventory Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.