Has Axcelis Technologies (ACLS) Outpaced Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Axcelis Technologies (ACLS) 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.
Axcelis Technologies is one of 627 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Axcelis Technologies is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ACLS' full-year earnings has moved 2.8% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ACLS has returned 65.2% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 37.3% on a year-to-date basis. As we can see, Axcelis Technologies is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is DoorDash, Inc. (DASH). The stock has returned 89.5% year-to-date.
In DoorDash, Inc.'s case, the consensus EPS estimate for the current year increased 20.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Axcelis Technologies is a member of the Electronics - Manufacturing Machinery industry, which includes 9 individual companies and currently sits at #168 in the Zacks Industry Rank. On average, this group has gained an average of 16.6% so far this year, meaning that ACLS is performing better in terms of year-to-date returns.
DoorDash, Inc. however, belongs to the Internet - Services industry. Currently, this 40-stock industry is ranked #69. The industry has moved +46% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track Axcelis Technologies and DoorDash, Inc. These stocks will be looking to continue their solid performance.
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