Is ACV Auctions (ACVA) Outperforming Other Retail-Wholesale Stocks This Year?
Investors interested in Retail-Wholesale stocks should always be looking to find the best-performing companies in the group. Has ACV Auctions Inc. (ACVA) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Retail-Wholesale sector should help us answer this question.
ACV Auctions Inc. is one of 221 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #8 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. ACV Auctions Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ACVA's full-year earnings has moved 14.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ACVA has returned 75.2% so far this year. Meanwhile, stocks in the Retail-Wholesale group have gained about 22.5% on average. This shows that ACV Auctions Inc. is outperforming its peers so far this year.
American Eagle Outfitters (AEO) is another Retail-Wholesale stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 48.7%.
The consensus estimate for American Eagle Outfitters' current year EPS has increased 9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, ACV Auctions Inc. belongs to the Internet - Commerce industry, which includes 42 individual stocks and currently sits at #26 in the Zacks Industry Rank. On average, stocks in this group have gained 48.5% this year, meaning that ACVA is performing better in terms of year-to-date returns.
On the other hand, American Eagle Outfitters belongs to the Retail - Apparel and Shoes industry. This 43-stock industry is currently ranked #151. The industry has moved +16.5% year to date.
ACV Auctions Inc. and American Eagle Outfitters 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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