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The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Redfin (RDFN) 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? One simple way to answer this question is to take a look at the year-to-date performance of RDFN and the rest of the Finance group's stocks.
Redfin is a member of our Finance group, which includes 899 different companies and currently sits at #11 in 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 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. RDFN is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for RDFN's full-year earnings has moved 51.62% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, RDFN has gained about 128.95% so far this year. Meanwhile, the Finance sector has returned an average of -14.21% on a year-to-date basis. This means that Redfin is outperforming the sector as a whole this year.
Looking more specifically, RDFN belongs to the Real Estate - Operations industry, a group that includes 37 individual stocks and currently sits at #180 in the Zacks Industry Rank. Stocks in this group have gained about 6.11% so far this year, so RDFN is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Finance stocks should continue to pay close attention to RDFN as it looks to continue its solid performance.
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