The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Amprius Technologies (AMPX) 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.
Amprius Technologies is one of 260 companies in the Business Services group. The Business Services group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Amprius Technologies is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMPX's full-year earnings has moved 10.2% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, AMPX has gained about 97.5% so far this year. Meanwhile, the Business Services sector has returned an average of 2.3% on a year-to-date basis. As we can see, Amprius Technologies is performing better than its sector in the calendar year.
CoreCard Corporation (CCRD) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 36.5%.
For CoreCard Corporation, the consensus EPS estimate for the current year has increased 14% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Amprius Technologies belongs to the Technology Services industry, which includes 122 individual stocks and currently sits at #51 in the Zacks Industry Rank. On average, stocks in this group have gained 7.6% this year, meaning that AMPX is performing better in terms of year-to-date returns. CoreCard Corporation is also part of the same industry.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Amprius Technologies and CoreCard Corporation as they could maintain their solid performance.
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Amprius Technologies, Inc. (AMPX): Free Stock Analysis Report CoreCard Corporation (CCRD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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