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Is Garmin (GRMN) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research

Investors focused on the Computer and Technology space have likely heard of Garmin (GRMN), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of GRMN and the rest of the Computer and Technology group's stocks.

Garmin is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #5. 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. GRMN is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for GRMN's full-year earnings has moved 6.71% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that GRMN has returned about 52.38% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 27.45% on average. As we can see, Garmin is performing better than its sector in the calendar year.

Looking more specifically, GRMN belongs to the Electronics - Miscellaneous Products industry, which includes 17 individual stocks and currently sits at #81 in the Zacks Industry Rank. Stocks in this group have gained about 44.19% so far this year, so GRMN is performing better this group in terms of year-to-date returns.

Investors in the Computer and Technology sector will want to keep a close eye on GRMN as it attempts to continue its solid performance.


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