Are Computer and Technology Stocks Lagging American Superconductor (AMSC) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has American Superconductor (AMSC) 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.
American Superconductor is one of 624 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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 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. American Superconductor is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AMSC's full-year earnings has moved 26% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, AMSC has moved about 171.7% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 48%. This means that American Superconductor is performing better than its sector in terms of year-to-date returns.
Arlo Technologies (ARLO) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 167.5%.
The consensus estimate for Arlo Technologies' current year EPS has increased 18.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, American Superconductor belongs to the Electronics - Miscellaneous Components industry, which includes 32 individual stocks and currently sits at #179 in the Zacks Industry Rank. On average, stocks in this group have gained 10.3% this year, meaning that AMSC is performing better in terms of year-to-date returns.
Arlo Technologies, however, belongs to the Internet - Software industry. Currently, this 147-stock industry is ranked #28. The industry has moved +60.4% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on American Superconductor and Arlo Technologies as they attempt to continue their solid performance.
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American Superconductor Corporation (AMSC) : Free Stock Analysis Report
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