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Are Computer and Technology Stocks Lagging Cognex (CGNX) This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Cognex Corporation (CGNX - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Cognex Corporation is one of 613 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Cognex Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CGNX's full-year earnings has moved 51.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CGNX has gained about 82.8% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 16.8% on average. This shows that Cognex Corporation is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Applied Materials (AMAT - Free Report) . The stock is up 129.1% year-to-date.
The consensus estimate for Applied Materials' current year EPS has increased 9.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Cognex Corporation belongs to the Electronics - Testing Equipment industry, which includes 4 individual stocks and currently sits at #23 in the Zacks Industry Rank. On average, this group has gained an average of 18.3% so far this year, meaning that CGNX is performing better in terms of year-to-date returns.
On the other hand, Applied Materials belongs to the Electronics - Semiconductors industry. This 50-stock industry is currently ranked #42. The industry has moved +51.1% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Cognex Corporation and Applied Materials as they could maintain their solid performance.
View the Zacks #1 Rank List
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Are Computer and Technology Stocks Lagging Cognex (CGNX) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Cognex Corporation (CGNX - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Cognex Corporation is one of 613 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Cognex Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CGNX's full-year earnings has moved 51.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CGNX has gained about 82.8% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 16.8% on average. This shows that Cognex Corporation is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Applied Materials (AMAT - Free Report) . The stock is up 129.1% year-to-date.
The consensus estimate for Applied Materials' current year EPS has increased 9.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Cognex Corporation belongs to the Electronics - Testing Equipment industry, which includes 4 individual stocks and currently sits at #23 in the Zacks Industry Rank. On average, this group has gained an average of 18.3% so far this year, meaning that CGNX is performing better in terms of year-to-date returns.
On the other hand, Applied Materials belongs to the Electronics - Semiconductors industry. This 50-stock industry is currently ranked #42. The industry has moved +51.1% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Cognex Corporation and Applied Materials as they could maintain their solid performance.