Is Axcelis Technologies (ACLS) Stock Outpacing Its Computer and Technology Peers This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Axcelis Technologies (ACLS) been one of those stocks this year? 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 a member of the Computer and Technology sector. This group includes 643 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Axcelis Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ACLS' full-year earnings has moved 12.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ACLS has returned about 49.1% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 20.5% on a year-to-date basis. As we can see, Axcelis Technologies is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, Alphabet Inc. (GOOG), has outperformed the sector so far this year. The stock's year-to-date return is 22%.
For Alphabet Inc. the consensus EPS estimate for the current year has increased 6.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Axcelis Technologies belongs to the Electronics - Manufacturing Machinery industry, which includes 10 individual stocks and currently sits at #68 in the Zacks Industry Rank. Stocks in this group have gained about 12.8% so far this year, so ACLS is performing better this group in terms of year-to-date returns.
On the other hand, Alphabet Inc. belongs to the Internet - Services industry. This 43-stock industry is currently ranked #158. The industry has moved +20.8% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on Axcelis Technologies and Alphabet Inc. as they attempt to continue their solid performance.
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