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Is Resources Connection (RECN) Stock Outpacing Its Business Services Peers This Year?

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Investors focused on the Business Services space have likely heard of Resources Connection (RECN - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of RECN and the rest of the Business Services group's stocks.

Resources Connection is one of 192 companies in the Business Services group. The Business Services group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. RECN is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for RECN's full-year earnings has moved 15.61% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, RECN has returned 18.80% so far this year. In comparison, Business Services companies have returned an average of 10.66%. This shows that Resources Connection is outperforming its peers so far this year.

Looking more specifically, RECN belongs to the Staffing Firms industry, a group that includes 17 individual stocks and currently sits at #46 in the Zacks Industry Rank. On average, stocks in this group have gained 14.48% this year, meaning that RECN is performing better in terms of year-to-date returns.

Investors with an interest in Business Services stocks should continue to track RECN. The stock will be looking to continue its solid performance.


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