Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has GigaCloud Technology Inc. (GCT) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
GigaCloud Technology Inc. is a member of our Business Services group, which includes 262 different companies and currently sits at #3 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. GigaCloud Technology Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for GCT's full-year earnings has moved 6.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, GCT has moved about 44.2% on a year-to-date basis. Meanwhile, stocks in the Business Services group have lost about 3.4% on average. This means that GigaCloud Technology Inc. is outperforming the sector as a whole this year.
One other Business Services stock that has outperformed the sector so far this year is Pentair plc (PNR). The stock is up 8.1% year-to-date.
In Pentair plc's case, the consensus EPS estimate for the current year increased 2.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, GigaCloud Technology Inc. belongs to the Technology Services industry, which includes 125 individual stocks and currently sits at #58 in the Zacks Industry Rank. On average, this group has gained an average of 38.4% so far this year, meaning that GCT is performing better in terms of year-to-date returns.
On the other hand, Pentair plc belongs to the Waste Removal Services industry. This 23-stock industry is currently ranked #147. The industry has moved +6.4% year to date.
Investors interested in the Business Services sector may want to keep a close eye on GigaCloud Technology Inc. and Pentair plc as they attempt to continue their solid performance.
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GigaCloud Technology Inc. (GCT): Free Stock Analysis Report Pentair plc (PNR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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