Investors focused on the Computer and Technology space have likely heard of Universal Display (OLED), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Universal Display is one of 632 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. OLED is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for OLED's full-year earnings has moved 9.83% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, OLED has moved about 85.02% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 23.63%. This means that Universal Display is performing better than its sector in terms of year-to-date returns.
Looking more specifically, OLED belongs to the Electronics - Miscellaneous Components industry, which includes 32 individual stocks and currently sits at #180 in the Zacks Industry Rank. On average, this group has gained an average of 21.54% so far this year, meaning that OLED 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 OLED as it looks to continue its solid performance.
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