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. Is American Superconductor (AMSC) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
American Superconductor is a member of the Computer and Technology sector. This group includes 624 individual stocks and currently holds a Zacks Sector Rank of #5. 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 26% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that AMSC has returned about 144% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 46.8% on average. This means that American Superconductor is outperforming the sector as a whole this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Nvidia (NVDA). The stock has returned 233.4% year-to-date.
The consensus estimate for Nvidia's current year EPS has increased 5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, American Superconductor belongs to the Electronics - Miscellaneous Components industry, a group that includes 32 individual companies and currently sits at #188 in the Zacks Industry Rank. On average, this group has gained an average of 7.9% so far this year, meaning that AMSC is performing better in terms of year-to-date returns.
Nvidia, however, belongs to the Semiconductor - General industry. Currently, this 8-stock industry is ranked #22. The industry has moved +138.6% so far this year.
American Superconductor and Nvidia could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Superconductor Corporation (AMSC) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
