For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Copart (CPRT - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
Copart is one of 191 individual stocks in the Business Services sector. Collectively, these companies sit at #8 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. CPRT is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CPRT's full-year earnings has moved 2.86% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that CPRT has returned about 56.53% since the start of the calendar year. Meanwhile, stocks in the Business Services group have gained about 28.33% on average. As we can see, Copart is performing better than its sector in the calendar year.
Looking more specifically, CPRT belongs to the Auction and Valuation Services industry, a group that includes 4 individual stocks and currently sits at #9 in the Zacks Industry Rank. Stocks in this group have gained about 37.47% so far this year, so CPRT is performing better this group in terms of year-to-date returns.
Investors with an interest in Business Services stocks should continue to track CPRT. The stock will be looking to continue its solid performance.