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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 one of 897 individual stocks in the Finance sector. Collectively, these companies sit at #4 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 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. 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 27.49% 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 100% so far this year. At the same time, Finance stocks have lost an average of 8.12%. As we can see, Redfin is performing better than its sector in the calendar year.
Looking more specifically, RDFN belongs to the Real Estate - Operations industry, which includes 37 individual stocks and currently sits at #130 in the Zacks Industry Rank. On average, this group has gained an average of 12.21% 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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