Is Chindata (CD) Stock Outpacing Its Business Services Peers 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 Chindata Group Holdings Limited Sponsored ADR (CD) 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.
Chindata Group Holdings Limited Sponsored ADR is one of 334 companies in the Business Services group. The Business Services group currently sits at #8 within 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. Chindata Group Holdings Limited Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CD's full-year earnings has moved 14% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CD has gained about 22.6% so far this year. In comparison, Business Services companies have returned an average of -33.3%. This means that Chindata Group Holdings Limited Sponsored ADR is performing better than its sector in terms of year-to-date returns.
International Money Express (IMXI) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 42.8%.
Over the past three months, International Money Express' consensus EPS estimate for the current year has increased 0.6%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Chindata Group Holdings Limited Sponsored ADR belongs to the Technology Services industry, a group that includes 189 individual stocks and currently sits at #148 in the Zacks Industry Rank. On average, stocks in this group have lost 50% this year, meaning that CD is performing better in terms of year-to-date returns.
International Money Express, however, belongs to the Financial Transaction Services industry. Currently, this 38-stock industry is ranked #176. The industry has moved -22.9% so far this year.
Chindata Group Holdings Limited Sponsored ADR and International Money Express 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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