We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is SPX Technologies, Inc. (SPXC) Stock Outpacing Its Business Services Peers This Year?
Read MoreHide Full Article
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is SPX Technologies (SPXC - Free Report) one of those stocks right now? 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.
SPX Technologies is one of 316 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics 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 3.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, SPXC has moved about 48.2% on a year-to-date basis. In comparison, Business Services companies have returned an average of 8.4%. This means that SPX Technologies is outperforming the sector as a whole this year.
Envestnet (ENV - 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 27.2%.
Over the past three months, Envestnet's consensus EPS estimate for the current year has increased 0.7%. 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 171 individual companies and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 20.4% so far this year, so SPXC is performing better in this area.
Envestnet, however, belongs to the Financial Transaction Services industry. Currently, this 41-stock industry is ranked #84. The industry has moved +6% so far this year.
Going forward, investors interested in Business Services stocks should continue to pay close attention to SPX Technologies and Envestnet as they could maintain their solid performance.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Is SPX Technologies, Inc. (SPXC) Stock Outpacing Its Business Services Peers This Year?
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is SPX Technologies (SPXC - Free Report) one of those stocks right now? 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.
SPX Technologies is one of 316 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics 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 3.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, SPXC has moved about 48.2% on a year-to-date basis. In comparison, Business Services companies have returned an average of 8.4%. This means that SPX Technologies is outperforming the sector as a whole this year.
Envestnet (ENV - 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 27.2%.
Over the past three months, Envestnet's consensus EPS estimate for the current year has increased 0.7%. 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 171 individual companies and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 20.4% so far this year, so SPXC is performing better in this area.
Envestnet, however, belongs to the Financial Transaction Services industry. Currently, this 41-stock industry is ranked #84. The industry has moved +6% so far this year.
Going forward, investors interested in Business Services stocks should continue to pay close attention to SPX Technologies and Envestnet as they could maintain their solid performance.