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Is SPX Technologies, Inc. (SPXC) Outperforming Other Business Services Stocks 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. Is SPX Technologies (SPXC - Free Report) one of those stocks right now? 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.
SPX Technologies is one of 315 individual stocks in the Business Services sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. SPX Technologies is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SPXC's full-year earnings has moved 6.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, SPXC has returned 47.2% so far this year. In comparison, Business Services companies have returned an average of 8.5%. This shows that SPX Technologies is outperforming its peers so far this year.
Another stock in the Business Services sector, Seagate (STX - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 21.1%.
For Seagate, the consensus EPS estimate for the current year has increased 32.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, SPX Technologies is a member of the Technology Services industry, which includes 170 individual companies and currently sits at #87 in the Zacks Industry Rank. On average, this group has gained an average of 18% so far this year, meaning that SPXC is performing better in terms of year-to-date returns. Seagate is also part of the same industry.
Investors interested in the Business Services sector may want to keep a close eye on SPX Technologies and Seagate as they attempt to continue their solid performance.
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Is SPX Technologies, Inc. (SPXC) Outperforming Other Business Services Stocks This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is SPX Technologies (SPXC - Free Report) one of those stocks right now? 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.
SPX Technologies is one of 315 individual stocks in the Business Services sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. SPX Technologies is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SPXC's full-year earnings has moved 6.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, SPXC has returned 47.2% so far this year. In comparison, Business Services companies have returned an average of 8.5%. This shows that SPX Technologies is outperforming its peers so far this year.
Another stock in the Business Services sector, Seagate (STX - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 21.1%.
For Seagate, the consensus EPS estimate for the current year has increased 32.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, SPX Technologies is a member of the Technology Services industry, which includes 170 individual companies and currently sits at #87 in the Zacks Industry Rank. On average, this group has gained an average of 18% so far this year, meaning that SPXC is performing better in terms of year-to-date returns. Seagate is also part of the same industry.
Investors interested in the Business Services sector may want to keep a close eye on SPX Technologies and Seagate as they attempt to continue their solid performance.