Is Healthcare Services Group (HCSG) Outperforming Other Business Services Stocks This Year?
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is Healthcare Services (HCSG) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Healthcare Services is a member of the Business Services sector. This group includes 271 individual stocks and currently holds a Zacks Sector Rank of #3. 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. Healthcare Services is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for HCSG's full-year earnings has moved 13.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that HCSG has returned about 22.7% since the start of the calendar year. Meanwhile, the Business Services sector has returned an average of -0.3% on a year-to-date basis. This means that Healthcare Services is outperforming the sector as a whole this year.
Loop Industries, Inc. (LOOP) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 30.8%.
In Loop Industries, Inc.'s case, the consensus EPS estimate for the current year increased 2.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Healthcare Services belongs to the Business - Services industry, a group that includes 26 individual companies and currently sits at #32 in the Zacks Industry Rank. On average, this group has gained an average of 18.3% so far this year, meaning that HCSG is performing better in terms of year-to-date returns.
On the other hand, Loop Industries, Inc. belongs to the Technology Services industry. This 130-stock industry is currently ranked #51. The industry has moved +7.5% year to date.
Investors with an interest in Business Services stocks should continue to track Healthcare Services and Loop Industries, Inc. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).
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