Is ACV Auctions (ACVA) Stock Outpacing Its Retail-Wholesale Peers This Year?
Investors interested in Retail-Wholesale stocks should always be looking to find the best-performing companies in the group. Is ACV Auctions Inc. (ACVA) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
ACV Auctions Inc. is a member of the Retail-Wholesale sector. This group includes 219 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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).
Over the past three months, the Zacks Consensus Estimate for ACVA's full-year earnings has moved 12.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ACVA has gained about 106.7% so far this year. Meanwhile, stocks in the Retail-Wholesale group have gained about 6.8% on average. 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 Boohoo Group Plc Unsponsored ADR (BHOOY). The stock is up 37% year-to-date.
Over the past three months, Boohoo Group Plc Unsponsored ADR's consensus EPS estimate for the current year has increased 49.3%. The stock currently has a Zacks Rank #2 (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 #101 in the Zacks Industry Rank. On average, stocks in this group have gained 17.9% this year, meaning that ACVA is performing better in terms of year-to-date returns.
Boohoo Group Plc Unsponsored ADR, however, belongs to the Retail - Apparel and Shoes industry. Currently, this 44-stock industry is ranked #199. The industry has moved -12% so far this year.
ACV Auctions Inc. and Boohoo Group Plc Unsponsored ADR 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
Boohoo Group Plc Unsponsored ADR (BHOOY) : Free Stock Analysis Report
