Is American Superconductor (AMSC) Stock Outpacing Its Computer and Technology Peers This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. American Superconductor (AMSC) 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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
American Superconductor is one of 633 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 in 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. American Superconductor is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AMSC's full-year earnings has moved 10.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, AMSC has moved about 103.8% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 32.1% on average. This shows that American Superconductor is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Carrier Global (CARR). The stock is up 33.5% year-to-date.
The consensus estimate for Carrier Global's current year EPS has increased 2.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, American Superconductor belongs to the Electronics - Miscellaneous Components industry, a group that includes 31 individual companies and currently sits at #180 in the Zacks Industry Rank. On average, this group has gained an average of 4.6% so far this year, meaning that AMSC is performing better in terms of year-to-date returns.
In contrast, Carrier Global falls under the Electronics - Miscellaneous Products industry. Currently, this industry has 33 stocks and is ranked #152. Since the beginning of the year, the industry has moved +12.5%.
Investors with an interest in Computer and Technology stocks should continue to track American Superconductor and Carrier Global. These stocks will be looking to continue their solid performance.
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American Superconductor Corporation (AMSC) : Free Stock Analysis Report
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