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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Avnet (AVT) 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? One simple way to answer this question is to take a look at the year-to-date performance of AVT and the rest of the Computer and Technology group's stocks.
Avnet is a member of our Computer and Technology group, which includes 620 different companies and currently sits at #13 in the Zacks Sector Rank. 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 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).
Over the past 90 days, the Zacks Consensus Estimate for AVT's full-year earnings has moved 16.52% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, AVT has returned 20.91% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 6.25% on a year-to-date basis. This means that Avnet is outperforming the sector as a whole this year.
Looking more specifically, AVT belongs to the Electronics - Parts Distribution industry, a group that includes 3 individual stocks and currently sits at #4 in the Zacks Industry Rank. On average, this group has gained an average of 24.48% so far this year, meaning that AVT is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AVT as it looks to continue its solid performance.
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Avnet, Inc. (AVT) : Free Stock Analysis Report
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