Investors focused on the Computer and Technology space have likely heard of Methode Electronics (MEI - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Methode Electronics is one of 641 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 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 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. MEI is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MEI's full-year earnings has moved 10.73% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, MEI has gained about 29.58% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 20.73% on a year-to-date basis. This means that Methode Electronics is outperforming the sector as a whole this year.
Looking more specifically, MEI belongs to the Electronics - Connectors industry, a group that includes 3 individual stocks and currently sits at #10 in the Zacks Industry Rank. On average, stocks in this group have gained 26.05% this year, meaning that MEI is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track MEI. The stock will be looking to continue its solid performance.