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

Investors focused on the Business Services space have likely heard of Herman Miller (MLHR), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.

Herman Miller is one of 193 companies in the Business Services group. The Business Services group currently sits at #7 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics 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.

Based on the latest available data, MLHR has gained about 47.67% so far this year. Meanwhile, stocks in the Business Services group have gained about 28.63% on average. This shows that Herman Miller is outperforming its peers so far this year.

Looking more specifically, MLHR belongs to the Business - Office Products industry, a group that includes 5 individual stocks and currently sits at #181 in the Zacks Industry Rank. Stocks in this group have gained about 21.64% so far this year, so MLHR is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Business Services stocks should continue to pay close attention to MLHR as it looks to continue its solid performance.


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