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Is Avis Budget Group (CAR) Stock Outpacing Its Business Services Peers This Year?
For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Avis Budget Group (CAR - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Avis Budget Group is one of 345 individual stocks in the Business Services sector. Collectively, these companies sit at #2 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 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. Avis Budget Group is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CAR's full-year earnings has moved 10.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CAR has returned about 9.6% since the start of the calendar year. At the same time, Business Services stocks have gained an average of 2.4%. This means that Avis Budget Group is performing better than its sector in terms of year-to-date returns.
Another Business Services stock, which has outperformed the sector so far this year, is Braze, Inc. (BRZE - Free Report) . The stock has returned 13.3% year-to-date.
Over the past three months, Braze, Inc.'s consensus EPS estimate for the current year has increased 1.4%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Avis Budget Group is a member of the Business - Services industry, which includes 25 individual companies and currently sits at #16 in the Zacks Industry Rank. On average, this group has gained an average of 9.3% so far this year, meaning that CAR is performing better in terms of year-to-date returns.
On the other hand, Braze, Inc. belongs to the Technology Services industry. This 199-stock industry is currently ranked #97. The industry has moved +6.2% year to date.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Avis Budget Group and Braze, Inc. as they could maintain their solid performance.