Has Concentrix Corporation (CNXC) outperformed other business services stocks this year?


For those looking to find strong stocks in business services, it is prudent to look for group companies that outperform their peers. Is Concentrix Corporation (CNXC) one of those stocks right now? Let’s take a closer look at the stock’s year-to-date performance to find out.

Concentrix Corporation is one of 307 individual stocks in the business services sector. Collectively, these companies rank 10th in the Zacks industry rankings. The Zacks Sector Ranking assesses the strength of our 16 individual sector groups by measuring the average Zacks Ranking of individual stocks within the groups.

The Zacks Rankings is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that display the right characteristics to beat the market over the next one to three months. Concentrix Corporation currently sports a Zacks rank of #1 (Strong Buy).

Over the past quarter, the Zacks consensus estimate for CNXC’s full-year earnings rose 16.7%. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.

According to our latest data, CNXC is up about 11.9% year-to-date. In comparison, business services companies achieved an average return of -12%. As we can see, Concentrix Corporation is performing better than its industry over the calendar year.

Another business services stock that has outperformed the sector so far this year is Ecovyst (ECVT). The stock is up 2.1% since the start of the year.

For Ecovyst, the current-year EPS consensus estimate rose 7.7% over the last three months. The stock currently has a Zacks rank #2 (buy).

To break it down further, Concentrix Corporation belongs to the Business – Services sector, a group that comprises 27 individual companies and is currently ranked 148th in the Zacks Industry Rankings. Shares in this group have lost about 25.9% so far this year, so CNXC is doing better for this group in terms of year-to-date returns.

Ecovyst, however, belongs to the technology services industry. Currently, this 159-stock industry is ranked #158. The industry is up -19.2% so far this year.

Investors interested in the business services sector may want to keep a close eye on Concentrix Corporation and Ecovyst as they attempt to continue their strong performance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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