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Is Concentrix Corporation (CNXC) Stock Outpacing Its Business Services Peers This Year?
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For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Concentrix Corporation (CNXC - Free Report) 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? 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.
Concentrix Corporation is one of 307 companies in the Business Services group. The Business Services group currently sits at #5 within the Zacks Sector Rank. 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 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. Concentrix Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CNXC's full-year earnings has moved 16.7% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CNXC has returned 6.9% so far this year. At the same time, Business Services stocks have lost an average of 42.2%. As we can see, Concentrix Corporation is performing better than its sector in the calendar year.
Ecovyst (ECVT - Free Report) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 1.1%.
For Ecovyst, the consensus EPS estimate for the current year has increased 12.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Concentrix Corporation belongs to the Business - Services industry, a group that includes 27 individual companies and currently sits at #100 in the Zacks Industry Rank. On average, this group has gained an average of 57.5% so far this year, meaning that CNXC is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Ecovyst falls under the Technology Services industry. Currently, this industry has 159 stocks and is ranked #162. Since the beginning of the year, the industry has moved -54.6%.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Concentrix Corporation and Ecovyst as they could maintain their solid performance.
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Is Concentrix Corporation (CNXC) Stock Outpacing Its Business Services Peers This Year?
For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Concentrix Corporation (CNXC - Free Report) 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? 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.
Concentrix Corporation is one of 307 companies in the Business Services group. The Business Services group currently sits at #5 within the Zacks Sector Rank. 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 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. Concentrix Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CNXC's full-year earnings has moved 16.7% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CNXC has returned 6.9% so far this year. At the same time, Business Services stocks have lost an average of 42.2%. As we can see, Concentrix Corporation is performing better than its sector in the calendar year.
Ecovyst (ECVT - Free Report) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 1.1%.
For Ecovyst, the consensus EPS estimate for the current year has increased 12.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Concentrix Corporation belongs to the Business - Services industry, a group that includes 27 individual companies and currently sits at #100 in the Zacks Industry Rank. On average, this group has gained an average of 57.5% so far this year, meaning that CNXC is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Ecovyst falls under the Technology Services industry. Currently, this industry has 159 stocks and is ranked #162. Since the beginning of the year, the industry has moved -54.6%.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Concentrix Corporation and Ecovyst as they could maintain their solid performance.