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 a member of our Business Services group, which includes 246 different companies and currently sits at #8 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Aduro Clean Technologies Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ADUR's full-year earnings has moved 38.4% higher within the past quarter. 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 55.4% so far this year. Meanwhile, stocks in the Business Services group have lost about 7.6% on average. As we can see, Aduro Clean Technologies Inc. is performing better than its sector in the calendar year.
Crane NXT (CXT) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 13.3%.
For Crane NXT, the consensus EPS estimate for the current year has increased 0.1% 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 #160 in the Zacks Industry Rank. On average, this group has lost an average of 6.1% so far this year, meaning that ADUR is performing better in terms of year-to-date returns. Crane NXT is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track Aduro Clean Technologies Inc. and Crane NXT. These stocks will be looking to continue their solid performance.
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