Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Turtle Beach (HEAR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of HEAR and the rest of the Computer and Technology group's stocks.
Turtle Beach is one of 611 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. HEAR is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for HEAR's full-year earnings has moved 241.77% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, HEAR has moved about 65.82% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 10.81%. This means that Turtle Beach is performing better than its sector in terms of year-to-date returns.
Looking more specifically, HEAR belongs to the Communication - Components industry, a group that includes 19 individual stocks and currently sits at #104 in the Zacks Industry Rank. On average, stocks in this group have lost 9.28% this year, meaning that HEAR is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to HEAR as it looks to continue its solid performance.
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