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Is AppHarvest, Inc. (APPH) Stock Outpacing Its Business Services Peers This Year?

Zacks Equity Research
·2-min read

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 AppHarvest, Inc. (APPH) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

AppHarvest, Inc. is a member of our Business Services group, which includes 307 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. AppHarvest, Inc. is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for APPH's full-year earnings has moved 4.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Based on the most recent data, APPH has returned 6.2% so far this year. In comparison, Business Services companies have returned an average of 0.5%. As we can see, AppHarvest, Inc. is performing better than its sector in the calendar year.

Another Business Services stock, which has outperformed the sector so far this year, is HeadHunter Group PLC Sponsored ADR (HHR). The stock has returned 2.2% year-to-date.

For HeadHunter Group PLC Sponsored ADR, the consensus EPS estimate for the current year has increased 16.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, AppHarvest, Inc. belongs to the Technology Services industry, a group that includes 159 individual companies and currently sits at #186 in the Zacks Industry Rank. On average, this group has gained an average of 0.6% so far this year, meaning that APPH is performing better in terms of year-to-date returns.

On the other hand, HeadHunter Group PLC Sponsored ADR belongs to the Business - Services industry. This 27-stock industry is currently ranked #119. The industry has moved -1.9% year to date.

Investors interested in the Business Services sector may want to keep a close eye on AppHarvest, Inc. and HeadHunter Group PLC Sponsored ADR as they attempt to continue their solid performance.


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AppHarvest, Inc. (APPH) : Free Stock Analysis Report
 
HeadHunter Group PLC Sponsored ADR (HHR) : Free Stock Analysis Report
 
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Zacks Investment Research