Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Turtle Beach (HEAR - Free Report) been one of those stocks this year? 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.
Turtle Beach is one of 625 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. HEAR is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for HEAR's full-year earnings has moved 124.53% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, HEAR has returned 1,215.67% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 10.33% on a year-to-date basis. This shows that Turtle Beach is outperforming its peers so far this year.
To break things down more, HEAR belongs to the Communication - Components industry, a group that includes 24 individual companies and currently sits at #79 in the Zacks Industry Rank. Stocks in this group have gained about 8.10% so far this year, so HEAR is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on HEAR as it attempts to continue its solid performance.