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Is Herman Miller (MLHR) Stock Outpacing Its Business Services Peers This Year?

Zacks Equity Research

For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Herman Miller (MLHR) one of those stocks right now? 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.

Herman Miller is a member of the Business Services sector. This group includes 194 individual stocks and currently holds a Zacks Sector Rank of #4. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MLHR is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for MLHR's full-year earnings has moved 2.16% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, MLHR has moved about 49.85% on a year-to-date basis. Meanwhile, stocks in the Business Services group have gained about 25.82% on average. As we can see, Herman Miller is performing better than its sector in the calendar year.

To break things down more, MLHR belongs to the Business - Office Products industry, a group that includes 5 individual companies and currently sits at #28 in the Zacks Industry Rank. On average, stocks in this group have gained 29% this year, meaning that MLHR is performing better in terms of year-to-date returns.

Investors in the Business Services sector will want to keep a close eye on MLHR as it attempts to continue its solid performance.

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