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 Kemet (KEM - 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.
Kemet is a member of the Computer and Technology sector. This group includes 660 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. KEM is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for KEM's full-year earnings has moved 39.21% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that KEM has returned about 45.55% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 1.52%. This means that Kemet is outperforming the sector as a whole this year.
To break things down more, KEM belongs to the Electronics - Miscellaneous Components industry, a group that includes 32 individual companies and currently sits at #107 in the Zacks Industry Rank. Stocks in this group have lost about 11.34% so far this year, so KEM 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 KEM as it attempts to continue its solid performance.