Are Business Services Stocks Lagging Copart (CPRT) This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Copart, Inc. (CPRT) 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 Business Services sector should help us answer this question.
Copart, Inc. is a member of the Business Services sector. This group includes 318 individual stocks and currently holds a Zacks Sector Rank of #4. 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. Copart, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CPRT's full-year earnings has moved 4.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CPRT has gained about 60.7% so far this year. Meanwhile, the Business Services sector has returned an average of 21.1% on a year-to-date basis. This means that Copart, Inc. is outperforming the sector as a whole this year.
Another stock in the Business Services sector, Braze, Inc. (BRZE), has outperformed the sector so far this year. The stock's year-to-date return is 97.9%.
In Braze, Inc.'s case, the consensus EPS estimate for the current year increased 8.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Copart, Inc. belongs to the Auction and Valuation Services industry, which includes 2 individual stocks and currently sits at #4 in the Zacks Industry Rank. Stocks in this group have gained about 58.3% so far this year, so CPRT is performing better this group in terms of year-to-date returns.
In contrast, Braze, Inc. falls under the Technology Services industry. Currently, this industry has 176 stocks and is ranked #74. Since the beginning of the year, the industry has moved +49%.
Copart, Inc. and Braze, Inc. 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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