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 Byrna Technologies Inc. (BYRN) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Byrna Technologies Inc. is one of 271 individual stocks in the Business Services sector. Collectively, these companies sit at #3 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Byrna Technologies Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BYRN's full-year earnings has moved 12.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that BYRN has returned about 8.8% since the start of the calendar year. In comparison, Business Services companies have returned an average of 0.2%. This shows that Byrna Technologies Inc. is outperforming its peers so far this year.
Allot Communications (ALLT) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 50.3%.
The consensus estimate for Allot Communications' current year EPS has increased 150% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Byrna Technologies Inc. belongs to the Technology Services industry, a group that includes 130 individual companies and currently sits at #47 in the Zacks Industry Rank. Stocks in this group have gained about 8.2% so far this year, so BYRN is performing better this group in terms of year-to-date returns. Allot Communications is also part of the same industry.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Byrna Technologies Inc. and Allot Communications as they could maintain their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Byrna Technologies Inc. (BYRN): Free Stock Analysis Report Allot Ltd. (ALLT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
