By Dan Weil At the end of 2022, consumer cyclical stocks traded at a 21% discount to Morningstar’s estimated fair value. With the S&P 500 having tumbled 14% over the past 12 months, investors are looking for buying opportunities in the stock market. One industry to consider is consumer cyclicals. At the end of 2022, the sector’s stocks traded at a 21% discount to fair value, as estimated by Morningstar analysts. Economic uncertainty is hurting the stocks, Morningstar analyst Erin Lash said in a commentary. Apparel and travel-and-leisure constitute the most undervalued segments of the sector, M…