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Is Steelcase (SCS) Outperforming Other Business Services Stocks This Year?

Zacks Equity Research

Investors focused on the Business Services space have likely heard of Steelcase (SCS), 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 SCS and the rest of the Business Services group's stocks.

Steelcase is a member of the Business Services sector. This group includes 192 individual stocks and currently holds a Zacks Sector Rank of #8. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. SCS is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for SCS's full-year earnings has moved 5.16% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, SCS has gained about 9.58% so far this year. Meanwhile, stocks in the Business Services group have gained about 6.18% on average. As we can see, Steelcase is performing better than its sector in the calendar year.

Looking more specifically, SCS belongs to the Business - Office Products industry, a group that includes 5 individual stocks and currently sits at #13 in the Zacks Industry Rank. This group has gained an average of 13.62% so far this year, so SCS is slightly underperforming its industry in this area.

Investors in the Business Services sector will want to keep a close eye on SCS as it attempts to continue its solid performance.

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