Is ACV Auctions (ACVA) Outperforming Other Retail-Wholesale Stocks This Year?
For those looking to find strong Retail-Wholesale stocks, it is prudent to search for companies in the group that are outperforming their peers. ACV Auctions Inc. (ACVA) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Retail-Wholesale peers, we might be able to answer that question.
ACV Auctions Inc. is one of 220 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #3 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ACV Auctions Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ACVA's full-year earnings has moved 7.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ACVA has moved about 98.1% on a year-to-date basis. At the same time, Retail-Wholesale stocks have gained an average of 19.6%. This means that ACV Auctions Inc. is performing better than its sector in terms of year-to-date returns.
Boot Barn (BOOT) is another Retail-Wholesale stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 37.4%.
For Boot Barn, the consensus EPS estimate for the current year has increased 7.2% 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 41 individual companies and currently sits at #70 in the Zacks Industry Rank. On average, this group has gained an average of 45.5% so far this year, meaning that ACVA is performing better in terms of year-to-date returns.
In contrast, Boot Barn falls under the Retail - Apparel and Shoes industry. Currently, this industry has 43 stocks and is ranked #99. Since the beginning of the year, the industry has moved +3.2%.
Investors interested in the Retail-Wholesale sector may want to keep a close eye on ACV Auctions Inc. and Boot Barn as they attempt to continue their solid performance.
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ACV Auctions Inc. (ACVA) : Free Stock Analysis Report
Boot Barn Holdings, Inc. (BOOT) : Free Stock Analysis Report
