Is HNI (HNI) Outperforming 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. Is HNI (HNI) 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.
HNI is one of 316 companies in the Business Services group. The Business Services group currently sits at #4 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. HNI is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for HNI's full-year earnings has moved 11.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, HNI has returned 38.2% so far this year. Meanwhile, stocks in the Business Services group have gained about 11.9% on average. This means that HNI is performing better than its sector in terms of year-to-date returns.
One other Business Services stock that has outperformed the sector so far this year is Hut 8 Mining (HUT). The stock is up 118.8% year-to-date.
The consensus estimate for Hut 8 Mining's current year EPS has increased 44.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, HNI is a member of the Business - Office Products industry, which includes 3 individual companies and currently sits at #3 in the Zacks Industry Rank. Stocks in this group have gained about 47.5% so far this year, so HNI is slightly underperforming its industry this group in terms of year-to-date returns.
On the other hand, Hut 8 Mining belongs to the Technology Services industry. This 176-stock industry is currently ranked #76. The industry has moved +31.4% year to date.
Investors with an interest in Business Services stocks should continue to track HNI and Hut 8 Mining. These stocks will be looking to continue their solid performance.
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HNI Corporation (HNI) : Free Stock Analysis Report
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