Yahoo Finance Are Business Services Stocks Lagging Copart (CPRT) This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Copart, Inc. (CPRT) 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.
Copart, Inc. is a member of our Business Services group, which includes 335 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Copart, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CPRT's full-year earnings has moved 4.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CPRT has gained about 23.1% so far this year. Meanwhile, stocks in the Business Services group have gained about 1.6% on average. This means that Copart, Inc. is outperforming the sector as a whole this year.
One other Business Services stock that has outperformed the sector so far this year is Duolingo, Inc. (DUOL). The stock is up 89.4% year-to-date.
In Duolingo, Inc.'s case, the consensus EPS estimate for the current year increased 42.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Copart, Inc. belongs to the Auction and Valuation Services industry, which includes 2 individual stocks and currently sits at #22 in the Zacks Industry Rank. On average, stocks in this group have gained 18.3% this year, meaning that CPRT is performing better in terms of year-to-date returns.
Duolingo, Inc. however, belongs to the Technology Services industry. Currently, this 195-stock industry is ranked #97. The industry has moved +4.2% so far this year.
Investors interested in the Business Services sector may want to keep a close eye on Copart, Inc. and Duolingo, Inc. as they attempt to continue their solid performance.
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