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Is Avnet (AVT) Stock Outpacing Its Computer and Technology Peers 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. Avnet (AVT - 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Avnet is one of 614 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 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. Avnet is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AVT's full-year earnings has moved 19.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AVT has moved about 100.8% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 18.3%. This means that Avnet is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, Broadcom Inc. (AVGO - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 23.6%.
In Broadcom Inc.'s case, the consensus EPS estimate for the current year increased 2.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Avnet belongs to the Electronics - Parts Distribution industry, which includes 4 individual stocks and currently sits at #4 in the Zacks Industry Rank. This group has gained an average of 67.8% so far this year, so AVT is performing better in this area.
Broadcom Inc., however, belongs to the Electronics - Semiconductors industry. Currently, this 49-stock industry is ranked #31. The industry has moved +33.1% so far this year.
Avnet and Broadcom Inc. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
View the Zacks #1 Rank List
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Is Avnet (AVT) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Avnet (AVT - 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Avnet is one of 614 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 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. Avnet is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for AVT's full-year earnings has moved 19.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AVT has moved about 100.8% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 18.3%. This means that Avnet is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, Broadcom Inc. (AVGO - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 23.6%.
In Broadcom Inc.'s case, the consensus EPS estimate for the current year increased 2.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Avnet belongs to the Electronics - Parts Distribution industry, which includes 4 individual stocks and currently sits at #4 in the Zacks Industry Rank. This group has gained an average of 67.8% so far this year, so AVT is performing better in this area.
Broadcom Inc., however, belongs to the Electronics - Semiconductors industry. Currently, this 49-stock industry is ranked #31. The industry has moved +33.1% so far this year.
Avnet and Broadcom Inc. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.