The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Stoneridge (SRI - 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.
Stoneridge is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 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 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. SRI is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SRI's full-year earnings has moved 4.99% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SRI has moved about 60.89% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 6.01%. As we can see, Stoneridge is performing better than its sector in the calendar year.
Looking more specifically, SRI belongs to the Electronics - Miscellaneous Components industry, which includes 34 individual stocks and currently sits at #35 in the Zacks Industry Rank. This group has lost an average of 14.24% so far this year, so SRI is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track SRI. The stock will be looking to continue its solid performance.