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 Turtle Beach (HEAR - 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.
Turtle Beach is a member of our Computer and Technology group, which includes 594 different companies and currently sits at #5 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. 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 96.55% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that HEAR has returned about 879.58% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 2.47% on average. 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 22 individual companies and currently sits at #54 in the Zacks Industry Rank. On average, this group has lost an average of 0.91% so far this year, meaning that HEAR is performing better in terms of year-to-date returns.
HEAR will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.