For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has GigaCloud Technology Inc. (GCT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
GigaCloud Technology Inc. is one of 238 individual stocks in the Business Services sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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).
The Zacks Consensus Estimate for GCT's full-year earnings has moved 9.4% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that GCT has returned about 4.4% since the start of the calendar year. Meanwhile, the Business Services sector has returned an average of -10% on a year-to-date basis. As we can see, GigaCloud Technology Inc. is performing better than its sector in the calendar year.
One other Business Services stock that has outperformed the sector so far this year is INTERTEK GP (IKTSY). The stock is up 0.4% year-to-date.
The consensus estimate for INTERTEK GP's current year EPS has increased 1.4% 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 110 individual stocks and currently sits at #157 in the Zacks Industry Rank. On average, this group has gained an average of 19.7% so far this year, meaning that GCT is slightly underperforming its industry in terms of year-to-date returns.
INTERTEK GP, however, belongs to the Business - Information Services industry. Currently, this 7-stock industry is ranked #106. The industry has moved -20.9% so far this year.
Investors with an interest in Business Services stocks should continue to track GigaCloud Technology Inc. and INTERTEK GP. These stocks will be looking to continue their solid performance.
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GigaCloud Technology Inc. (GCT): Free Stock Analysis Report INTERTEK GP (IKTSY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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