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Has Avnet (AVT) Outpaced Other Computer and Technology Stocks This Year?
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Investors focused on the Computer and Technology space have likely heard of Avnet (AVT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AVT and the rest of the Computer and Technology group's stocks.
Avnet is a member of the Computer and Technology sector. This group includes 620 individual stocks and currently holds a Zacks Sector Rank of #11. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AVT is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AVT's full-year earnings has moved 16.52% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AVT has returned 25.49% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 12.43% on a year-to-date basis. This means that Avnet is outperforming the sector as a whole this year.
To break things down more, AVT belongs to the Electronics - Parts Distribution industry, a group that includes 3 individual companies and currently sits at #6 in the Zacks Industry Rank. This group has gained an average of 27.21% so far this year, so AVT is slightly underperforming its industry in this area.
AVT will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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Has Avnet (AVT) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Avnet (AVT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AVT and the rest of the Computer and Technology group's stocks.
Avnet is a member of the Computer and Technology sector. This group includes 620 individual stocks and currently holds a Zacks Sector Rank of #11. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AVT is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AVT's full-year earnings has moved 16.52% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AVT has returned 25.49% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 12.43% on a year-to-date basis. This means that Avnet is outperforming the sector as a whole this year.
To break things down more, AVT belongs to the Electronics - Parts Distribution industry, a group that includes 3 individual companies and currently sits at #6 in the Zacks Industry Rank. This group has gained an average of 27.21% so far this year, so AVT is slightly underperforming its industry in this area.
AVT will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.