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Is Parsons (PSN) Stock Outpacing Its Business Services Peers This Year?
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The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Parsons (PSN - 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? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Parsons is one of 315 individual stocks in the Business Services sector. Collectively, these companies sit at #6 in 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. Parsons is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PSN's full-year earnings has moved 1.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that PSN has returned about 24.1% since the start of the calendar year. Meanwhile, stocks in the Business Services group have gained about 7.9% on average. This means that Parsons is performing better than its sector in terms of year-to-date returns.
Another Business Services stock, which has outperformed the sector so far this year, is Spotify (SPOT - Free Report) . The stock has returned 79.1% year-to-date.
In Spotify's case, the consensus EPS estimate for the current year increased 8.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Parsons belongs to the Technology Services industry, a group that includes 170 individual companies and currently sits at #98 in the Zacks Industry Rank. Stocks in this group have gained about 19.2% so far this year, so PSN is performing better this group in terms of year-to-date returns. Spotify is also part of the same industry.
Investors interested in the Business Services sector may want to keep a close eye on Parsons and Spotify as they attempt to continue their solid performance.
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Is Parsons (PSN) Stock Outpacing Its Business Services Peers This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Parsons (PSN - 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? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Parsons is one of 315 individual stocks in the Business Services sector. Collectively, these companies sit at #6 in 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. Parsons is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PSN's full-year earnings has moved 1.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that PSN has returned about 24.1% since the start of the calendar year. Meanwhile, stocks in the Business Services group have gained about 7.9% on average. This means that Parsons is performing better than its sector in terms of year-to-date returns.
Another Business Services stock, which has outperformed the sector so far this year, is Spotify (SPOT - Free Report) . The stock has returned 79.1% year-to-date.
In Spotify's case, the consensus EPS estimate for the current year increased 8.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Parsons belongs to the Technology Services industry, a group that includes 170 individual companies and currently sits at #98 in the Zacks Industry Rank. Stocks in this group have gained about 19.2% so far this year, so PSN is performing better this group in terms of year-to-date returns. Spotify is also part of the same industry.
Investors interested in the Business Services sector may want to keep a close eye on Parsons and Spotify as they attempt to continue their solid performance.