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Has Carrier Global (CARR) Outpaced Other Computer and Technology Stocks This Year?

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Investors focused on the Computer and Technology space have likely heard of Carrier Global (CARR - 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.

Carrier Global is a member of the Computer and Technology sector. This group includes 632 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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

Over the past 90 days, the Zacks Consensus Estimate for CARR's full-year earnings has moved 7.66% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, CARR has returned 10.66% so far this year. At the same time, Computer and Technology stocks have gained an average of 1.06%. This shows that Carrier Global is outperforming its peers so far this year.

To break things down more, CARR belongs to the Electronics - Miscellaneous Products industry, a group that includes 20 individual companies and currently sits at #50 in the Zacks Industry Rank. On average, stocks in this group have gained 6.51% this year, meaning that CARR is performing better in terms of year-to-date returns.

Investors in the Computer and Technology sector will want to keep a close eye on CARR as it attempts to continue its solid performance.


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