Has ACV Auctions (ACVA) Outpaced Other Retail-Wholesale Stocks This Year?
The Retail-Wholesale group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has ACV Auctions Inc. (ACVA) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
ACV Auctions Inc. is one of 218 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #5 in 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 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. ACV Auctions Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ACVA's full-year earnings has moved 13.6% 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, ACVA has moved about 108.4% on a year-to-date basis. At the same time, Retail-Wholesale stocks have gained an average of 13.7%. This means that ACV Auctions Inc. is performing better than its sector in terms of year-to-date returns.
One other Retail-Wholesale stock that has outperformed the sector so far this year is BJ's Restaurants (BJRI). The stock is up 16.5% year-to-date.
In BJ's Restaurants' case, the consensus EPS estimate for the current year increased 24.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, ACV Auctions Inc. belongs to the Internet - Commerce industry, a group that includes 40 individual companies and currently sits at #83 in the Zacks Industry Rank. On average, stocks in this group have gained 30.7% this year, meaning that ACVA is performing better in terms of year-to-date returns.
On the other hand, BJ's Restaurants belongs to the Retail - Restaurants industry. This 39-stock industry is currently ranked #33. The industry has moved +12.2% year to date.
ACV Auctions Inc. and BJ's Restaurants could continue their solid performance, so investors interested in Retail-Wholesale stocks should continue to pay close attention to these stocks.
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ACV Auctions Inc. (ACVA) : Free Stock Analysis Report
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