Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has Coherent (COHR) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Coherent is a member of the Business Services sector. This group includes 246 individual stocks and currently holds a Zacks Sector Rank of #11. 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 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. Coherent is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for COHR's full-year earnings has moved 18.2% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, COHR has moved about 49.3% on a year-to-date basis. At the same time, Business Services stocks have lost an average of 7.3%. As we can see, Coherent is performing better than its sector in the calendar year.
One other Business Services stock that has outperformed the sector so far this year is Liquidity Services (LQDT). The stock is up 42.6% year-to-date.
In Liquidity Services' case, the consensus EPS estimate for the current year increased 16% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Coherent belongs to the Technology Services industry, a group that includes 121 individual companies and currently sits at #166 in the Zacks Industry Rank. On average, stocks in this group have lost 13.9% this year, meaning that COHR is performing better in terms of year-to-date returns.
Liquidity Services, however, belongs to the Auction and Valuation Services industry. Currently, this 3-stock industry is ranked #56. The industry has moved -13.6% so far this year.
Coherent and Liquidity Services could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.
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Coherent Corp. (COHR): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).