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For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Camden (CPT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Camden is a member of the Finance sector. This group includes 871 individual stocks and currently holds a Zacks Sector Rank of #6. 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 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. Camden is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CPT's full-year earnings has moved 0.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CPT has gained about 20.5% so far this year. At the same time, Finance stocks have gained an average of 20.1%. This means that Camden is performing better than its sector in terms of year-to-date returns.
One other Finance stock that has outperformed the sector so far this year is Allstate (ALL). The stock is up 37.9% year-to-date.
Over the past three months, Allstate's consensus EPS estimate for the current year has increased 21.9%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Camden is a member of the REIT and Equity Trust - Residential industry, which includes 23 individual companies and currently sits at #64 in the Zacks Industry Rank. Stocks in this group have gained about 10.1% so far this year, so CPT is performing better this group in terms of year-to-date returns.
On the other hand, Allstate belongs to the Insurance - Property and Casualty industry. This 40-stock industry is currently ranked #63. The industry has moved +28.8% year to date.
Investors with an interest in Finance stocks should continue to track Camden and Allstate. These stocks will be looking to continue their solid performance.
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Camden Property Trust (CPT) : Free Stock Analysis Report