Investors focused on the Computer and Technology space have likely heard of PerkinElmer (PKI - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
PerkinElmer is a member of the Computer and Technology sector. This group includes 604 individual stocks and currently holds a Zacks Sector Rank of #7. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. PKI is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PKI's full-year earnings has moved 40.80% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, PKI has returned 21.24% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 15.32% on average. This shows that PerkinElmer is outperforming its peers so far this year.
To break things down more, PKI belongs to the Instruments - Scientific industry, a group that includes 5 individual companies and currently sits at #72 in the Zacks Industry Rank. This group has gained an average of 5.01% so far this year, so PKI is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to PKI as it looks to continue its solid performance.