Investors focused on the Business Services space have likely heard of Herman Miller (MLHR - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Herman Miller is a member of our Business Services group, which includes 194 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. MLHR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for MLHR's full-year earnings has moved 2.87% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that MLHR has returned about 46.54% since the start of the calendar year. In comparison, Business Services companies have returned an average of 24.83%. This means that Herman Miller is outperforming the sector as a whole this year.
Breaking things down more, MLHR is a member of the Business - Office Products industry, which includes 5 individual companies and currently sits at #33 in the Zacks Industry Rank. Stocks in this group have gained about 25.46% so far this year, so MLHR is performing better this group in terms of year-to-date returns.
Investors with an interest in Business Services stocks should continue to track MLHR. The stock will be looking to continue its solid performance.