The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. SKYX Platforms Corp. (SKYX) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
SKYX Platforms Corp. 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 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. SKYX Platforms Corp. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SKYX's full-year earnings has moved 12.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that SKYX has returned about 26.3% since the start of the calendar year. Meanwhile, the Business Services sector has returned an average of -11.8% on a year-to-date basis. As we can see, SKYX Platforms Corp. is performing better than its sector in the calendar year.
Another Business Services stock, which has outperformed the sector so far this year, is V2X (VVX). The stock has returned 25.2% year-to-date.
The consensus estimate for V2X's current year EPS has increased 1.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, SKYX Platforms Corp. belongs to the Technology Services industry, which includes 110 individual stocks and currently sits at #160 in the Zacks Industry Rank. This group has gained an average of 14.5% so far this year, so SKYX is performing better in this area. V2X is also part of the same industry.
Investors interested in the Business Services sector may want to keep a close eye on SKYX Platforms Corp. and V2X as they attempt to continue their solid performance.
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SKYX Platforms Corp. (SKYX): Free Stock Analysis Report V2X, Inc. (VVX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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