Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Lenovo Group (LNVGY - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Lenovo Group is one of 637 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 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. LNVGY is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for LNVGY's full-year earnings has moved 26.23% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that LNVGY has returned about 8.96% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 16.47% on average. This means that Lenovo Group is outperforming the sector as a whole this year.
To break things down more, LNVGY belongs to the Computer - Mini computers industry, a group that includes 4 individual companies and currently sits at #54 in the Zacks Industry Rank. This group has gained an average of 22.61% so far this year, so LNVGY is slightly underperforming its industry in this area.
LNVGY will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.