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Is Rocket Companies (RKT) Outperforming Other Business Services Stocks This Year?
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Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has Rocket Companies (RKT - Free Report) been one of those stocks this year? 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.
Rocket Companies is one of 213 individual stocks in the Business Services sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. 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 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. RKT is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for RKT's full-year earnings has moved 136.59% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, RKT has gained about 14.69% so far this year. Meanwhile, the Business Services sector has returned an average of -1.36% on a year-to-date basis. As we can see, Rocket Companies is performing better than its sector in the calendar year.
Looking more specifically, RKT belongs to the Technology Services industry, a group that includes 82 individual stocks and currently sits at #209 in the Zacks Industry Rank. On average, this group has gained an average of 13.84% so far this year, meaning that RKT is performing better in terms of year-to-date returns.
RKT will likely be looking to continue its solid performance, so investors interested in Business Services stocks should continue to pay close attention to the company.
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Is Rocket Companies (RKT) Outperforming Other Business Services Stocks This Year?
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has Rocket Companies (RKT - Free Report) been one of those stocks this year? 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.
Rocket Companies is one of 213 individual stocks in the Business Services sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. 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 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. RKT is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for RKT's full-year earnings has moved 136.59% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, RKT has gained about 14.69% so far this year. Meanwhile, the Business Services sector has returned an average of -1.36% on a year-to-date basis. As we can see, Rocket Companies is performing better than its sector in the calendar year.
Looking more specifically, RKT belongs to the Technology Services industry, a group that includes 82 individual stocks and currently sits at #209 in the Zacks Industry Rank. On average, this group has gained an average of 13.84% so far this year, meaning that RKT is performing better in terms of year-to-date returns.
RKT will likely be looking to continue its solid performance, so investors interested in Business Services stocks should continue to pay close attention to the company.