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Is Avnet (AVT) Outperforming Other Computer and Technology Stocks This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Avnet (AVT - 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.
Avnet is one of 619 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. 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 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 17.27% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that AVT has returned about 21.22% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 15.81%. This means that Avnet is outperforming the sector as a whole this year.
Looking more specifically, AVT belongs to the Electronics - Parts Distribution industry, which includes 3 individual stocks and currently sits at #9 in the Zacks Industry Rank. This group has gained an average of 27% so far this year, so AVT is slightly underperforming its industry in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AVT as it looks to continue its solid performance.
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Is Avnet (AVT) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Avnet (AVT - 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.
Avnet is one of 619 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. 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 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 17.27% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that AVT has returned about 21.22% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 15.81%. This means that Avnet is outperforming the sector as a whole this year.
Looking more specifically, AVT belongs to the Electronics - Parts Distribution industry, which includes 3 individual stocks and currently sits at #9 in the Zacks Industry Rank. This group has gained an average of 27% so far this year, so AVT is slightly underperforming its industry in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AVT as it looks to continue its solid performance.