The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Garmin (GRMN - Free Report) one of those stocks right now? 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.
Garmin is one of 624 companies in the Computer and Technology group. The Computer and Technology group currently sits at #1 within 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. GRMN is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GRMN's full-year earnings has moved 4.65% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that GRMN has returned about 14.72% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 10.71%. This means that Garmin is performing better than its sector in terms of year-to-date returns.
Breaking things down more, GRMN is a member of the Electronics - Miscellaneous Products industry, which includes 21 individual companies and currently sits at #177 in the Zacks Industry Rank. On average, stocks in this group have gained 11.13% this year, meaning that GRMN is performing better in terms of year-to-date returns.
GRMN will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.