Is Herman Miller (MLHR) Stock Outpacing Its Business Services Peers This Year?

Investors focused on the Business Services space have likely heard of Herman Miller (MLHR), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.

Herman Miller is a member of the Business Services sector. This group includes 194 individual stocks and currently holds a Zacks Sector Rank of #5. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. MLHR is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for MLHR's full-year earnings has moved 2.16% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, MLHR has gained about 35.27% so far this year. In comparison, Business Services companies have returned an average of 27.32%. This shows that Herman Miller is outperforming its peers so far this year.

Breaking things down more, MLHR is a member of the Business - Office Products industry, which includes 5 individual companies and currently sits at #17 in the Zacks Industry Rank. This group has gained an average of 13.82% so far this year, so MLHR is performing better in this area.

Going forward, investors interested in Business Services stocks should continue to pay close attention to MLHR as it looks to continue its solid 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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