Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Avnet (AVT) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Avnet is a member of the Computer and Technology sector. This group includes 665 individual stocks and currently holds a Zacks Sector Rank of #11. 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. Avnet is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for AVT’s full-year earnings has moved 16.5% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, AVT has returned 1.2% so far this year. In comparison, Computer and Technology companies have returned an average of -20.7%. This means that Avnet is outperforming the sector as a whole this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is BWX Technologies (BWXT). The stock has returned 8.5% year-to-date.
Over the past three months, BWX Technologies’ consensus EPS estimate for the current year has increased 0.3%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Avnet belongs to the Electronics – Parts Distribution industry, a group that includes 4 individual companies and currently sits at #1 in the Zacks Industry Rank. On average, stocks in this group have lost 7.4% this year, meaning that AVT is performing better in terms of year-to-date returns.
On the other hand, BWX Technologies belongs to the Electronics – Miscellaneous Components industry. This 28-stock industry is currently ranked #189. The industry has moved -19% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on Avnet and BWX Technologies as they attempt to continue their solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.