Are Computer and Technology Stocks Lagging Camtek (CAMT) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Camtek (CAMT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Camtek is a member of the Computer and Technology sector. This group includes 622 individual stocks and currently holds a Zacks Sector Rank of #9. 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 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. Camtek is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CAMT's full-year earnings has moved 2.3% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CAMT has returned about 17.8% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 11.2%. This shows that Camtek is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Toast (TOST), has outperformed the sector so far this year. The stock's year-to-date return is 28%.
The consensus estimate for Toast's current year EPS has increased 41% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Camtek is a member of the Electronics - Measuring Instruments industry, which includes 5 individual companies and currently sits at #180 in the Zacks Industry Rank. On average, this group has lost an average of 0.2% so far this year, meaning that CAMT is performing better in terms of year-to-date returns.
Toast, however, belongs to the Internet - Software industry. Currently, this 145-stock industry is ranked #59. The industry has moved +20.7% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Camtek and Toast as they could maintain their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Camtek Ltd. (CAMT) : Free Stock Analysis Report
Toast, Inc. (TOST) : Free Stock Analysis Report
