For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Aduro Clean Technologies Inc. (ADUR) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Aduro Clean Technologies Inc. is one of 234 companies in the Business Services group. The Business Services group currently sits at #7 within 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Aduro Clean Technologies Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ADUR's full-year earnings has moved 12.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ADUR has moved about 35.3% on a year-to-date basis. Meanwhile, stocks in the Business Services group have lost about 11.2% on average. This means that Aduro Clean Technologies Inc. is performing better than its sector in terms of year-to-date returns.
Concrete Pumping (BBCP) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 55.4%.
The consensus estimate for Concrete Pumping's current year EPS has increased 112.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Aduro Clean Technologies Inc. belongs to the Technology Services industry, a group that includes 112 individual stocks and currently sits at #155 in the Zacks Industry Rank. Stocks in this group have lost about 0.7% so far this year, so ADUR is performing better this group in terms of year-to-date returns.
Concrete Pumping, however, belongs to the Waste Removal Services industry. Currently, this 20-stock industry is ranked #94. The industry has moved -4.9% so far this year.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Aduro Clean Technologies Inc. and Concrete Pumping as they could maintain their solid performance.
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Aduro Clean Technologies Inc. (ADUR): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).