For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Comtech Telecommunications (CMTL - 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.
Comtech Telecommunications is a member of the Computer and Technology sector. This group includes 596 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. CMTL is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CMTL's full-year earnings has moved 27.31% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CMTL has returned about 44.39% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 3.49% on average. This means that Comtech Telecommunications is performing better than its sector in terms of year-to-date returns.
Looking more specifically, CMTL belongs to the Wireless Equipment industry, a group that includes 15 individual stocks and currently sits at #86 in the Zacks Industry Rank. Stocks in this group have gained about 11.59% so far this year, so CMTL is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CMTL as it looks to continue its solid performance.