Has Copart (CPRT) Outpaced Other Business Services Stocks This Year?
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has Copart, Inc. (CPRT) 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.
Copart, Inc. is one of 317 companies in the Business Services group. The Business Services group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CPRT's full-year earnings has moved 5.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CPRT has moved about 45% on a year-to-date basis. In comparison, Business Services companies have returned an average of 4.8%. As we can see, Copart, Inc. is performing better than its sector in the calendar year.
Another stock in the Business Services sector, Cellebrite DI Ltd. (CLBT), has outperformed the sector so far this year. The stock's year-to-date return is 57.8%.
In Cellebrite DI Ltd.'s case, the consensus EPS estimate for the current year increased 21.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Copart, Inc. is a member of the Auction and Valuation Services industry, which includes 2 individual companies and currently sits at #1 in the Zacks Industry Rank. This group has gained an average of 44.5% so far this year, so CPRT is performing better in this area.
Cellebrite DI Ltd. however, belongs to the Technology Services industry. Currently, this 177-stock industry is ranked #92. The industry has moved +21.8% so far this year.
Copart, Inc. and Cellebrite DI Ltd. 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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Copart, Inc. (CPRT) : Free Stock Analysis Report
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