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 247 individual stocks in the Business Services sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Aduro Clean Technologies Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ADUR's full-year earnings has moved 46.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ADUR has returned 52.3% so far this year. At the same time, Business Services stocks have lost an average of 7.5%. This means that Aduro Clean Technologies Inc. is outperforming the sector as a whole this year.
One other Business Services stock that has outperformed the sector so far this year is Aurora Innovation, Inc. (AUR). The stock is up 76.8% year-to-date.
For Aurora Innovation, Inc., the consensus EPS estimate for the current year has increased 0.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Aduro Clean Technologies Inc. is a member of the Technology Services industry, which includes 121 individual companies and currently sits at #110 in the Zacks Industry Rank. On average, stocks in this group have gained 1.5% this year, meaning that ADUR is performing better in terms of year-to-date returns. Aurora Innovation, Inc. is also part of the same industry.
Investors interested in the Business Services sector may want to keep a close eye on Aduro Clean Technologies Inc. and Aurora Innovation, Inc. as they attempt to continue their solid performance.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Aduro Clean Technologies Inc. (ADUR): Free Stock Analysis Report
Aurora Innovation, Inc. (AUR): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).