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Is Garmin (GRMN) Stock Outpacing Its Computer and Technology Peers This Year?
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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Garmin (GRMN - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Garmin is one of 612 companies in the Computer and Technology group. The Computer and Technology group currently sits at #10 within the Zacks Sector Rank. 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. GRMN is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for GRMN's full-year earnings has moved 9.41% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, GRMN has gained about 6.62% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 21.23% on average. This means that Garmin is outperforming the sector as a whole this year.
To break things down more, GRMN belongs to the Electronics - Miscellaneous Products industry, a group that includes 17 individual companies and currently sits at #167 in the Zacks Industry Rank. This group has lost an average of 5.40% so far this year, so GRMN is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on GRMN as it attempts to continue its solid performance.
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Is Garmin (GRMN) Stock Outpacing Its Computer and Technology Peers This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Garmin (GRMN - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Garmin is one of 612 companies in the Computer and Technology group. The Computer and Technology group currently sits at #10 within the Zacks Sector Rank. 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. GRMN is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for GRMN's full-year earnings has moved 9.41% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, GRMN has gained about 6.62% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 21.23% on average. This means that Garmin is outperforming the sector as a whole this year.
To break things down more, GRMN belongs to the Electronics - Miscellaneous Products industry, a group that includes 17 individual companies and currently sits at #167 in the Zacks Industry Rank. This group has lost an average of 5.40% so far this year, so GRMN is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on GRMN as it attempts to continue its solid performance.