Is AppHarvest (APPH) Outperforming Other Business Services Stocks This Year?
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. AppHarvest, Inc. (APPH) 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 Business Services peers, we might be able to answer that question.
AppHarvest, Inc. is one of 344 individual stocks in the Business Services sector. Collectively, these companies sit at #9 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. AppHarvest, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for APPH's full-year earnings has moved 38.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, APPH has gained about 29.2% so far this year. In comparison, Business Services companies have returned an average of -30%. This means that AppHarvest, Inc. is outperforming the sector as a whole this year.
Another stock in the Business Services sector, Harte-Hanks (HHS), has outperformed the sector so far this year. The stock's year-to-date return is 0.3%.
For Harte-Hanks, the consensus EPS estimate for the current year has increased 5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, AppHarvest, Inc. is a member of the Technology Services industry, which includes 199 individual companies and currently sits at #98 in the Zacks Industry Rank. This group has lost an average of 49.9% so far this year, so APPH is performing better in this area.
On the other hand, Harte-Hanks belongs to the Advertising and Marketing industry. This 17-stock industry is currently ranked #57. The industry has moved -19% year to date.
Going forward, investors interested in Business Services stocks should continue to pay close attention to AppHarvest, Inc. and Harte-Hanks as they could maintain their solid performance.
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