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. Comtech Telecommunications (CMTL - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of CMTL and the rest of the Computer and Technology group's stocks.
Comtech Telecommunications is one of 659 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 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 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. CMTL is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CMTL's full-year earnings has moved 27.31% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CMTL has moved about 21.34% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of -0.30% on a year-to-date basis. 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, which includes 16 individual stocks and currently sits at #17 in the Zacks Industry Rank. This group has gained an average of 6.43% so far this year, so CMTL is performing better in this area.
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.