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Are Business Services Stocks Lagging Cricut (CRCT) This Year?
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The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Cricut, Inc. (CRCT - Free Report) 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.
Cricut, Inc. is one of 253 individual stocks in the Business Services sector. Collectively, these companies sit at #3 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 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. Cricut, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CRCT's full-year earnings has moved 27.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CRCT has gained about 6.8% so far this year. At the same time, Business Services stocks have gained an average of 0.6%. This means that Cricut, Inc. is performing better than its sector in terms of year-to-date returns.
One other Business Services stock that has outperformed the sector so far this year is Digi Power X Inc. (DGXX - Free Report) . The stock is up 47.3% year-to-date.
For Digi Power X Inc., the consensus EPS estimate for the current year has increased 69.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Cricut, Inc. belongs to the Technology Services industry, a group that includes 118 individual companies and currently sits at #93 in the Zacks Industry Rank. This group has gained an average of 28% so far this year, so CRCT is slightly underperforming its industry in this area. Digi Power X Inc. is also part of the same industry.
Investors interested in the Business Services sector may want to keep a close eye on Cricut, Inc. and Digi Power X Inc. as they attempt to continue their solid performance.
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Are Business Services Stocks Lagging Cricut (CRCT) This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Cricut, Inc. (CRCT - Free Report) 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.
Cricut, Inc. is one of 253 individual stocks in the Business Services sector. Collectively, these companies sit at #3 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 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. Cricut, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CRCT's full-year earnings has moved 27.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CRCT has gained about 6.8% so far this year. At the same time, Business Services stocks have gained an average of 0.6%. This means that Cricut, Inc. is performing better than its sector in terms of year-to-date returns.
One other Business Services stock that has outperformed the sector so far this year is Digi Power X Inc. (DGXX - Free Report) . The stock is up 47.3% year-to-date.
For Digi Power X Inc., the consensus EPS estimate for the current year has increased 69.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Cricut, Inc. belongs to the Technology Services industry, a group that includes 118 individual companies and currently sits at #93 in the Zacks Industry Rank. This group has gained an average of 28% so far this year, so CRCT is slightly underperforming its industry in this area. Digi Power X Inc. is also part of the same industry.
Investors interested in the Business Services sector may want to keep a close eye on Cricut, Inc. and Digi Power X Inc. as they attempt to continue their solid performance.