Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has Ingram Micro (INGM) been one of those stocks this year? 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.
Ingram Micro is a member of our Business Services group, which includes 246 different companies and currently sits 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. Ingram Micro is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for INGM's full-year earnings has moved 2.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, INGM has moved about 32.2% on a year-to-date basis. Meanwhile, the Business Services sector has returned an average of -7.9% on a year-to-date basis. This means that Ingram Micro is outperforming the sector as a whole this year.
Korn/Ferry (KFY) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 24.6%.
The consensus estimate for Korn/Ferry's current year EPS has increased 0.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Ingram Micro is a member of the Technology Services industry, which includes 121 individual companies and currently sits at #138 in the Zacks Industry Rank. On average, this group has lost an average of 9.4% so far this year, meaning that INGM is performing better in terms of year-to-date returns.
In contrast, Korn/Ferry falls under the Staffing Firms industry. Currently, this industry has 12 stocks and is ranked #92. Since the beginning of the year, the industry has moved +44.4%.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Ingram Micro and Korn/Ferry as they could maintain their solid performance.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
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
Keep it Clean. Please avoid obscene, vulgar, lewd,
racist or sexually-oriented language. PLEASE TURN OFF YOUR CAPS LOCK. Don't Threaten. Threats of harming another
person will not be tolerated. Be Truthful. Don't knowingly lie about anyone
or anything. Be Nice. No racism, sexism or any sort of -ism
that is degrading to another person. Be Proactive. Use the 'Report' link on
each comment to let us know of abusive posts. Share with Us. We'd love to hear eyewitness
accounts, the history behind an article.
(0) comments
Welcome to the discussion.
Log In
Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.