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Has Rocket Companies (RKT) Outpaced Other Business Services Stocks This Year?
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Investors focused on the Business Services space have likely heard of Rocket Companies (RKT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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 a member of the Business Services sector. This group includes 213 individual stocks and currently holds a Zacks Sector Rank of #12. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. RKT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for RKT's full-year earnings has moved 139.51% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, RKT has moved about 2.28% on a year-to-date basis. Meanwhile, the Business Services sector has returned an average of 1.92% on a year-to-date basis. This means that Rocket Companies is performing better than its sector in terms of year-to-date returns.
Looking more specifically, RKT belongs to the Technology Services industry, a group that includes 82 individual stocks and currently sits at #192 in the Zacks Industry Rank. On average, this group has gained an average of 18.59% so far this year, meaning that RKT is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Business Services stocks should continue to track RKT. The stock will be looking to continue its solid performance.
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Has Rocket Companies (RKT) Outpaced Other Business Services Stocks This Year?
Investors focused on the Business Services space have likely heard of Rocket Companies (RKT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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 a member of the Business Services sector. This group includes 213 individual stocks and currently holds a Zacks Sector Rank of #12. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. RKT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for RKT's full-year earnings has moved 139.51% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, RKT has moved about 2.28% on a year-to-date basis. Meanwhile, the Business Services sector has returned an average of 1.92% on a year-to-date basis. This means that Rocket Companies is performing better than its sector in terms of year-to-date returns.
Looking more specifically, RKT belongs to the Technology Services industry, a group that includes 82 individual stocks and currently sits at #192 in the Zacks Industry Rank. On average, this group has gained an average of 18.59% so far this year, meaning that RKT is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Business Services stocks should continue to track RKT. The stock will be looking to continue its solid performance.