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Has NOV (NOV) Outpaced Other Business Services Stocks This Year?

·2 min read

Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is Nov Inc. (NOV) 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.

Nov Inc. is a member of our Business Services group, which includes 327 different companies and currently sits at #7 in 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 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. Nov Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for NOV's full-year earnings has moved 113.6% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, NOV has returned 30.8% so far this year. In comparison, Business Services companies have returned an average of -26.1%. This shows that Nov Inc. is outperforming its peers so far this year.

Another Business Services stock, which has outperformed the sector so far this year, is Quest Resource (QRHC). The stock has returned 6.3% year-to-date.

In Quest Resource's case, the consensus EPS estimate for the current year increased 47.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, Nov Inc. belongs to the Technology Services industry, a group that includes 178 individual companies and currently sits at #137 in the Zacks Industry Rank. This group has lost an average of 43.8% so far this year, so NOV is performing better in this area.

In contrast, Quest Resource falls under the Waste Removal Services industry. Currently, this industry has 16 stocks and is ranked #51. Since the beginning of the year, the industry has moved -6.5%.

Investors with an interest in Business Services stocks should continue to track Nov Inc. and Quest Resource. These stocks will be looking to continue their solid performance.


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