Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has Figure Technology (FIGR) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Figure Technology is one of 233 individual stocks in the Business Services sector. Collectively, these companies sit at #8 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 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. Figure Technology is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FIGR's full-year earnings has moved 1.1% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, FIGR has gained about 5.8% so far this year. At the same time, Business Services stocks have lost an average of 11.2%. As we can see, Figure Technology is performing better than its sector in the calendar year.
Another Business Services stock, which has outperformed the sector so far this year, is Kforce (KFRC). The stock has returned 27.7% year-to-date.
For Kforce, the consensus EPS estimate for the current year has increased 12.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Figure Technology belongs to the Technology Services industry, which includes 111 individual stocks and currently sits at #170 in the Zacks Industry Rank. On average, stocks in this group have gained 0.2% this year, meaning that FIGR is performing better in terms of year-to-date returns.
Kforce, however, belongs to the Staffing Firms industry. Currently, this 13-stock industry is ranked #186. The industry has moved -0.7% so far this year.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Figure Technology and Kforce as they could maintain their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).