For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Casella (CWST) one of those stocks right now? 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.
Casella is a member of our Business Services group, which includes 270 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Casella is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CWST's full-year earnings has moved 11.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CWST has moved about 11% on a year-to-date basis. Meanwhile, the Business Services sector has returned an average of -0.9% on a year-to-date basis. This means that Casella is outperforming the sector as a whole this year.
One other Business Services stock that has outperformed the sector so far this year is Qifu Technology, Inc. (QFIN). The stock is up 6.9% year-to-date.
In Qifu Technology, Inc.'s case, the consensus EPS estimate for the current year increased 8.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Casella belongs to the Waste Removal Services industry, a group that includes 23 individual companies and currently sits at #202 in the Zacks Industry Rank. Stocks in this group have gained about 9% so far this year, so CWST is performing better this group in terms of year-to-date returns.
Qifu Technology, Inc. however, belongs to the Technology Services industry. Currently, this 129-stock industry is ranked #65. The industry has moved -12.4% so far this year.
Investors with an interest in Business Services stocks should continue to track Casella and Qifu Technology, Inc. These stocks will be looking to continue their solid performance.
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Casella Waste Systems, Inc. (CWST): Free Stock Analysis Report Qifu Technology, Inc. (QFIN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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