For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Atlas (ATCO) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.
Atlas is one of 886 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 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. Atlas is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ATCO's full-year earnings has moved 0.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ATCO has moved about 7.8% on a year-to-date basis. Meanwhile, stocks in the Finance group have lost about 15.2% on average. This means that Atlas is outperforming the sector as a whole this year.
One other Finance stock that has outperformed the sector so far this year is Berkshire Hills Bancorp (BHLB). The stock is up 0.1% year-to-date.
Over the past three months, Berkshire Hills Bancorp's consensus EPS estimate for the current year has increased 7.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Atlas belongs to the Financial - Investment Management industry, which includes 45 individual stocks and currently sits at #180 in the Zacks Industry Rank. On average, this group has lost an average of 22.2% so far this year, meaning that ATCO is performing better in terms of year-to-date returns.
In contrast, Berkshire Hills Bancorp falls under the Financial - Savings and Loan industry. Currently, this industry has 32 stocks and is ranked #41. Since the beginning of the year, the industry has moved -8.1%.
Investors with an interest in Finance stocks should continue to track Atlas and Berkshire Hills Bancorp. These stocks will be looking to continue their solid performance.
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