The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Avnet (AVT) 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 Computer and Technology sector should help us answer this question.
Avnet is a member of the Computer and Technology sector. This group includes 667 individual stocks and currently holds a Zacks Sector Rank of #10. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Avnet is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AVT's full-year earnings has moved 16.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AVT has returned 0.1% so far this year. In comparison, Computer and Technology companies have returned an average of -14%. This shows that Avnet is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Vocera Communications (VCRA), has outperformed the sector so far this year. The stock's year-to-date return is 22.1%.
Over the past three months, Vocera Communications' consensus EPS estimate for the current year has increased 204.4%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Avnet belongs to the Electronics - Parts Distribution industry, which includes 4 individual stocks and currently sits at #1 in the Zacks Industry Rank. On average, stocks in this group have lost 6% this year, meaning that AVT is performing better in terms of year-to-date returns.
In contrast, Vocera Communications falls under the Communication - Components industry. Currently, this industry has 17 stocks and is ranked #85. Since the beginning of the year, the industry has moved -4.6%.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Avnet and Vocera Communications as they could maintain their solid performance.
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