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. Has Avis Budget Group (CAR) been one of those stocks this year? 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.
Avis Budget Group is a member of the Business Services sector. This group includes 333 individual stocks and currently holds a Zacks Sector Rank of #9. 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Avis Budget Group is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CAR's full-year earnings has moved 12.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CAR has returned about 8.8% since the start of the calendar year. At the same time, Business Services stocks have lost an average of 28.4%. As we can see, Avis Budget Group is performing better than its sector in the calendar year.
One other Business Services stock that has outperformed the sector so far this year is Huron Consulting (HURN). The stock is up 52.2% year-to-date.
Over the past three months, Huron Consulting's consensus EPS estimate for the current year has increased 0.7%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Avis Budget Group belongs to the Business - Services industry, a group that includes 25 individual companies and currently sits at #185 in the Zacks Industry Rank. On average, stocks in this group have lost 41% this year, meaning that CAR is performing better in terms of year-to-date returns.
On the other hand, Huron Consulting belongs to the Consulting Services industry. This 15-stock industry is currently ranked #47. The industry has moved -24.7% year to date.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Avis Budget Group and Huron Consulting as they could maintain their solid performance.
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