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Investors focused on the Finance space have likely heard of Redfin (RDFN), but is the stock performing well in comparison to the rest of its sector peers? 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 895 different companies and currently sits at #4 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. RDFN is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for RDFN's full-year earnings has moved 27.49% 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, RDFN has returned 130.65% so far this year. In comparison, Finance companies have returned an average of -4.92%. This means that Redfin is outperforming the sector as a whole this year.
To break things down more, RDFN belongs to the Real Estate - Operations industry, a group that includes 37 individual companies and currently sits at #99 in the Zacks Industry Rank. On average, this group has gained an average of 16.51% so far this year, meaning that RDFN is performing better in terms of year-to-date returns.
Investors with an interest in Finance stocks should continue to track RDFN. The stock will be looking to continue its solid performance.
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