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Are Business Services Stocks Lagging Avis Budget Group (CAR) This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Avis Budget Group (CAR - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Avis Budget Group is a member of the Business Services sector. This group includes 345 individual stocks and currently holds a Zacks Sector Rank of #3. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Avis Budget Group is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CAR's full-year earnings has moved 9.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CAR has returned 35.4% so far this year. Meanwhile, stocks in the Business Services group have gained about 6.4% on average. This means that Avis Budget Group is outperforming the sector as a whole this year.
DocuSign (DOCU - Free Report) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 18.5%.
Over the past three months, DocuSign's consensus EPS estimate for the current year has increased 130.6%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Avis Budget Group belongs to the Business - Services industry, a group that includes 25 individual stocks and currently sits at #53 in the Zacks Industry Rank. This group has gained an average of 14.3% so far this year, so CAR is performing better in this area.
In contrast, DocuSign falls under the Technology Services industry. Currently, this industry has 199 stocks and is ranked #103. Since the beginning of the year, the industry has moved +12.4%.
Investors interested in the Business Services sector may want to keep a close eye on Avis Budget Group and DocuSign as they attempt to continue their solid performance.