For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Elevate Credit (ELVT - 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.
Elevate Credit is one of 826 individual stocks in the Finance 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ELVT is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ELVT's full-year earnings has moved 6.85% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ELVT has moved about 45.02% on a year-to-date basis. In comparison, Finance companies have returned an average of -2.47%. This means that Elevate Credit is performing better than its sector in terms of year-to-date returns.
Breaking things down more, ELVT is a member of the Financial - Consumer Loans industry, which includes 18 individual companies and currently sits at #46 in the Zacks Industry Rank. On average, this group has lost an average of 0.21% so far this year, meaning that ELVT is performing better in terms of year-to-date returns.
Going forward, investors interested in Finance stocks should continue to pay close attention to ELVT as it looks to continue its solid performance.