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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Avnet (AVT) one of those stocks right now? 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.
Avnet is a member of our Computer and Technology group, which includes 625 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. AVT is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AVT's full-year earnings has moved 8.98% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, AVT has moved about 23.21% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 10.33%. This means that Avnet is outperforming the sector as a whole this year.
Breaking things down more, AVT is a member of the Electronics - Parts Distribution industry, which includes 3 individual companies and currently sits at #113 in the Zacks Industry Rank. On average, stocks in this group have gained 17.97% this year, meaning that AVT is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on AVT as it attempts to continue its solid performance.
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