Are Business Services Stocks Lagging Avis Budget Group (CAR) This Year?
For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Avis Budget Group (CAR) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Avis Budget Group is a member of our Business Services group, which includes 330 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Avis Budget Group is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CAR's full-year earnings has moved 18.5% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CAR has gained about 38.1% so far this year. At the same time, Business Services stocks have gained an average of 12.7%. This means that Avis Budget Group is outperforming the sector as a whole this year.
Another Business Services stock, which has outperformed the sector so far this year, is SPX Technologies (SPXC). The stock has returned 24.5% year-to-date.
For SPX Technologies, the consensus EPS estimate for the current year has increased 14.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Avis Budget Group belongs to the Business - Services industry, a group that includes 25 individual stocks and currently sits at #119 in the Zacks Industry Rank. On average, this group has gained an average of 19.9% so far this year, meaning that CAR is performing better in terms of year-to-date returns.
On the other hand, SPX Technologies belongs to the Technology Services industry. This 187-stock industry is currently ranked #117. The industry has moved +22.9% year to date.
Avis Budget Group and SPX Technologies could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.
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Avis Budget Group, Inc. (CAR) : Free Stock Analysis Report
SPX Technologies, Inc. (SPXC) : Free Stock Analysis Report
