Back to top

Image: Bigstock

Is NOV (NOV) Outperforming Other Business Services Stocks This Year?

Read MoreHide Full Article

The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Nov Inc. (NOV - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Nov Inc. is one of 327 individual stocks in the Business Services sector. Collectively, these companies sit at #10 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Nov Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for NOV's full-year earnings has moved 85.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, NOV has gained about 22.9% so far this year. Meanwhile, the Business Services sector has returned an average of -27.9% on a year-to-date basis. This means that Nov Inc. is performing better than its sector in terms of year-to-date returns.

Another stock in the Business Services sector, Quest Resource (QRHC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 14.6%.

The consensus estimate for Quest Resource's current year EPS has increased 77.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Nov Inc. belongs to the Technology Services industry, a group that includes 178 individual stocks and currently sits at #146 in the Zacks Industry Rank. On average, stocks in this group have lost 45.2% this year, meaning that NOV is performing better in terms of year-to-date returns.

On the other hand, Quest Resource belongs to the Waste Removal Services industry. This 16-stock industry is currently ranked #49. The industry has moved -5.7% year to date.

Going forward, investors interested in Business Services stocks should continue to pay close attention to Nov Inc. and Quest Resource as they could maintain their solid performance.

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

NOV Inc. (NOV) - free report >>

Quest Resource Holding Corporation. (QRHC) - free report >>

Published in