Are Finance Stocks Lagging Goosehead Insurance (GSHD) This Year?
For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Goosehead Insurance (GSHD) 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.
Goosehead Insurance is a member of the Finance sector. This group includes 874 individual stocks and currently holds a Zacks Sector Rank of #16. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Goosehead Insurance is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for GSHD's full-year earnings has moved 29.3% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that GSHD has returned about 52.4% since the start of the calendar year. In comparison, Finance companies have returned an average of -0.8%. As we can see, Goosehead Insurance is performing better than its sector in the calendar year.
Another Finance stock, which has outperformed the sector so far this year, is Everest Re (RE). The stock has returned 10.1% year-to-date.
For Everest Re, the consensus EPS estimate for the current year has increased 8.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Goosehead Insurance belongs to the Insurance - Multi line industry, a group that includes 35 individual companies and currently sits at #43 in the Zacks Industry Rank. This group has lost an average of 12.8% so far this year, so GSHD is performing better in this area.
On the other hand, Everest Re belongs to the Insurance - Property and Casualty industry. This 42-stock industry is currently ranked #158. The industry has moved +0.1% year to date.
Goosehead Insurance and Everest Re could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
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