Investors focused on the Computer and Technology space have likely heard of Lenovo Group (LNVGY - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of LNVGY and the rest of the Computer and Technology group's stocks.
Lenovo Group 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 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. LNVGY is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for LNVGY's full-year earnings has moved 28.85% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, LNVGY has returned 38.36% so far this year. In comparison, Computer and Technology companies have returned an average of 22.36%. As we can see, Lenovo Group is performing better than its sector in the calendar year.
Breaking things down more, LNVGY is a member of the Computer - Mini computers industry, which includes 4 individual companies and currently sits at #15 in the Zacks Industry Rank. On average, this group has gained an average of 33.27% so far this year, meaning that LNVGY is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on LNVGY as it attempts to continue its solid performance.