For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Root, Inc. (ROOT) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Root, Inc. is one of 862 companies in the Finance group. The Finance group currently sits at #3 within 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Root, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ROOT's full-year earnings has moved 48.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ROOT has moved about 539.9% on a year-to-date basis. In comparison, Finance companies have returned an average of 12.9%. As we can see, Root, Inc. is performing better than its sector in the calendar year.
Another stock in the Finance sector, Popular (BPOP), has outperformed the sector so far this year. The stock's year-to-date return is 24.5%.
Over the past three months, Popular's consensus EPS estimate for the current year has increased 5.5%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Root, Inc. belongs to the Insurance - Property and Casualty industry, a group that includes 40 individual stocks and currently sits at #99 in the Zacks Industry Rank. This group has gained an average of 20.8% so far this year, so ROOT is performing better in this area.
Popular, however, belongs to the Banks - Southeast industry. Currently, this 55-stock industry is ranked #48. The industry has moved +17.9% so far this year.
Investors with an interest in Finance stocks should continue to track Root, Inc. and Popular. These stocks will be looking to continue their 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.
