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Is Herman Miller (MLHR) Stock Outpacing Its Business Services Peers This Year?

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Investors focused on the Business Services space have likely heard of Herman Miller , 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 193 different companies and currently sits at #5 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. 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.

According to our latest data, MLHR has moved about 56.69% on a year-to-date basis. Meanwhile, the Business Services sector has returned an average of 25.95% on a year-to-date basis. This shows that Herman Miller is outperforming its peers so far 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 #3 in the Zacks Industry Rank. On average, stocks in this group have gained 37.02% this year, meaning that MLHR is performing better in terms of year-to-date returns.

MLHR will likely be looking to continue its solid performance, so investors interested in Business Services stocks should continue to pay close attention to the company.

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