Investors interested in Conglomerates stocks should always be looking to find the best-performing companies in the group. Is HC2 Holdings (HCHC - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Conglomerates peers, we might be able to answer that question.
HC2 Holdings is one of 22 individual stocks in the Conglomerates sector. Collectively, these companies sit at #1 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 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. HCHC is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for HCHC's full-year earnings has moved 7.20% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, HCHC has gained about 1.14% so far this year. Meanwhile, stocks in the Conglomerates group have gained about 0.97% on average. This means that HC2 Holdings is outperforming the sector as a whole this year.
To break things down more, HCHC belongs to the Diversified Operations industry, a group that includes 22 individual companies and currently sits at #68 in the Zacks Industry Rank. On average, stocks in this group have gained 0.97% this year, meaning that HCHC is performing better in terms of year-to-date returns.
Going forward, investors interested in Conglomerates stocks should continue to pay close attention to HCHC as it looks to continue its solid performance.