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Is Garmin (GRMN) Stock Outpacing Its Computer and Technology Peers This Year?

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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Garmin (GRMN - Free Report) 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.

Garmin is a member of our Computer and Technology group, which includes 605 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. GRMN is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for GRMN's full-year earnings has moved 15.07% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, GRMN has gained about 7.24% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 21.35% on a year-to-date basis. This shows that Garmin is outperforming its peers so far this year.

Looking more specifically, GRMN belongs to the Electronics - Miscellaneous Products industry, a group that includes 17 individual stocks and currently sits at #102 in the Zacks Industry Rank. Stocks in this group have lost about 1.06% so far this year, so GRMN is performing better this group in terms of year-to-date returns.

Investors with an interest in Computer and Technology stocks should continue to track GRMN. The stock will be looking to continue its solid performance.


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