Are Retail-Wholesale Stocks Lagging ACV Auctions (ACVA) This Year?
Investors interested in Retail-Wholesale stocks should always be looking to find the best-performing companies in the group. ACV Auctions Inc. (ACVA) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Retail-Wholesale sector should help us answer this question.
ACV Auctions Inc. is one of 221 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #10 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 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. ACV Auctions Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ACVA's full-year earnings has moved 18.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ACVA has returned 76.4% so far this year. In comparison, Retail-Wholesale companies have returned an average of 11.8%. This means that ACV Auctions Inc. is outperforming the sector as a whole this year.
One other Retail-Wholesale stock that has outperformed the sector so far this year is TJX (TJX). The stock is up 13.6% year-to-date.
Over the past three months, TJX's consensus EPS estimate for the current year has increased 4.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, ACV Auctions Inc. belongs to the Internet - Commerce industry, a group that includes 42 individual stocks and currently sits at #92 in the Zacks Industry Rank. Stocks in this group have gained about 32% so far this year, so ACVA is performing better this group in terms of year-to-date returns.
In contrast, TJX falls under the Retail - Discount Stores industry. Currently, this industry has 8 stocks and is ranked #160. Since the beginning of the year, the industry has moved +2.6%.
Investors with an interest in Retail-Wholesale stocks should continue to track ACV Auctions Inc. and TJX. These stocks will be looking to continue their solid performance.
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