Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is Coherent (COHR) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Coherent is a member of the Business Services sector. This group includes 259 individual stocks and currently holds a Zacks Sector Rank of #4. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Coherent is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for COHR's full-year earnings has moved 13% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, COHR has gained about 50.9% so far this year. In comparison, Business Services companies have returned an average of -10.1%. This shows that Coherent is outperforming its peers so far this year.
One other Business Services stock that has outperformed the sector so far this year is Healthcare Services (HCSG). The stock is up 48.5% year-to-date.
The consensus estimate for Healthcare Services' current year EPS has increased 2.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Coherent belongs to the Technology Services industry, a group that includes 124 individual companies and currently sits at #75 in the Zacks Industry Rank. On average, stocks in this group have gained 32.1% this year, meaning that COHR is performing better in terms of year-to-date returns.
Healthcare Services, however, belongs to the Business - Services industry. Currently, this 27-stock industry is ranked #47. The industry has moved -11.6% so far this year.
Coherent and Healthcare Services could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.
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Coherent Corp. (COHR): Free Stock Analysis Report Healthcare Services Group, Inc. (HCSG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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