The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Turtle Beach (HEAR - 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.
Turtle Beach 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 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. HEAR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for HEAR's full-year earnings has moved 8,300% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, HEAR has returned 87.30% so far this year. At the same time, Computer and Technology stocks have gained an average of 18.01%. This shows that Turtle Beach is outperforming its peers so far this year.
Looking more specifically, HEAR belongs to the Communication - Components industry, a group that includes 19 individual stocks and currently sits at #95 in the Zacks Industry Rank. Stocks in this group have gained about 2.38% so far this year, so HEAR is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on HEAR as it attempts to continue its solid performance.