The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Avnet (AVT) 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? Let’s take a closer look at the stock’s year-to-date performance to find out.
Avnet is one of 665 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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. Avnet is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for AVT’s full-year earnings has moved 20.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
According to our latest data, AVT has moved about 14.1% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have lost about 27.8% on average. As we can see, Avnet is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Aspen Technology (AZPN). The stock has returned 17.1% year-to-date.
In Aspen Technology’s case, the consensus EPS estimate for the current year increased 3.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Avnet is a member of the Electronics – Parts Distribution industry, which includes 4 individual companies and currently sits at #4 in the Zacks Industry Rank. On average, stocks in this group have lost 4.1% this year, meaning that AVT is performing better in terms of year-to-date returns.
In contrast, Aspen Technology falls under the Computer – Software industry. Currently, this industry has 37 stocks and is ranked #150. Since the beginning of the year, the industry has moved -26.9%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Avnet and Aspen Technology as they attempt to continue their solid performance.
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