For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Amprius Technologies (AMPX) 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.
Amprius Technologies is one of 238 individual stocks in the Business Services sector. Collectively, these companies sit at #13 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. Amprius Technologies is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMPX's full-year earnings has moved 6.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AMPX has returned 88.7% so far this year. Meanwhile, the Business Services sector has returned an average of -6.1% on a year-to-date basis. This means that Amprius Technologies 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 Vontier Corporation (VNT). The stock has returned 6.5% year-to-date.
For Vontier Corporation, the consensus EPS estimate for the current year has increased 1.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Amprius Technologies belongs to the Technology Services industry, a group that includes 109 individual companies and currently sits at #182 in the Zacks Industry Rank. On average, this group has lost an average of 5.8% so far this year, meaning that AMPX is performing better in terms of year-to-date returns. Vontier Corporation is also part of the same industry.
Investors interested in the Business Services sector may want to keep a close eye on Amprius Technologies and Vontier Corporation as they attempt to continue their solid performance.
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Amprius Technologies, Inc. (AMPX): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).