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? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Kemet is one of 659 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. KEM is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for KEM's full-year earnings has moved 39.21% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, KEM has moved about 27.89% on a year-to-date basis. At the same time, Computer and Technology stocks have lost an average of 2.88%. This means that Kemet is performing better than its sector in terms of year-to-date returns.
Looking more specifically, KEM belongs to the Electronics - Miscellaneous Components industry, which includes 32 individual stocks and currently sits at #78 in the Zacks Industry Rank. Stocks in this group have lost about 16.20% so far this year, so KEM 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 KEM as it looks to continue its solid performance.