Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has Invesco (IVZ - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Invesco is a member of our Finance group, which includes 843 different companies and currently sits at #6 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. IVZ is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for IVZ's full-year earnings has moved 3.93% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, IVZ has gained about 2.28% so far this year. At the same time, Finance stocks have gained an average of 0.49%. This means that Invesco is outperforming the sector as a whole this year.
Looking more specifically, IVZ belongs to the Financial - Investment Management industry, a group that includes 48 individual stocks and currently sits at #15 in the Zacks Industry Rank. This group has gained an average of 7.98% so far this year, so IVZ is slightly underperforming its industry in this area.
Investors in the Finance sector will want to keep a close eye on IVZ as it attempts to continue its solid performance.