Are Business Services Stocks Lagging Futu Holdings (FUTU) 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. Futu Holdings Limited Sponsored ADR (FUTU) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Futu Holdings Limited Sponsored ADR is one of 344 companies in the Business Services group. The Business Services group currently sits at #4 within 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 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. Futu Holdings Limited Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for FUTU's full-year earnings has moved 2.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, FUTU has moved about 16.1% on a year-to-date basis. In comparison, Business Services companies have returned an average of -27.4%. This means that Futu Holdings Limited Sponsored ADR is outperforming the sector as a whole this year.
Luna Innovations Incorporated (LUNA) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 1.9%.
The consensus estimate for Luna Innovations Incorporated's current year EPS has increased 3.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Futu Holdings Limited Sponsored ADR is a member of the Technology Services industry, which includes 199 individual companies and currently sits at #87 in the Zacks Industry Rank. On average, this group has lost an average of 47.8% so far this year, meaning that FUTU is performing better in terms of year-to-date returns. Luna Innovations Incorporated is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track Futu Holdings Limited Sponsored ADR and Luna Innovations Incorporated. These stocks will be looking to continue their solid performance.
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Futu Holdings Limited Sponsored ADR (FUTU) : Free Stock Analysis Report
Luna Innovations Incorporated (LUNA) : Free Stock Analysis Report
