The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. RB Global (RBA) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
RB Global is a member of the Business Services sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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. RB Global is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for RBA's full-year earnings has moved 3.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, RBA has gained about 12.3% so far this year. In comparison, Business Services companies have returned an average of -10.2%. This means that RB Global is outperforming the sector as a whole this year.
Another stock in the Business Services sector, Remitly Global, Inc. (RELY), has outperformed the sector so far this year. The stock's year-to-date return is 2.5%.
In Remitly Global, Inc.'s case, the consensus EPS estimate for the current year increased 4.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, RB Global belongs to the Financial Transaction Services industry, a group that includes 37 individual companies and currently sits at #174 in the Zacks Industry Rank. On average, stocks in this group have lost 13.7% this year, meaning that RBA is performing better in terms of year-to-date returns. Remitly Global, Inc. is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track RB Global and Remitly Global, Inc.. These stocks will be looking to continue their solid performance.
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RB Global, Inc. (RBA): Free Stock Analysis Report Remitly Global, Inc. (RELY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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