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. Has Woodward (WWD - Free Report) been one of those stocks this year? 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.
Woodward is a member of our Computer and Technology group, which includes 638 different companies and currently sits at #7 in 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. WWD is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for WWD's full-year earnings has moved 3.33% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, WWD has gained about 56.64% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 23.16% on a year-to-date basis. As we can see, Woodward is performing better than its sector in the calendar year.
Looking more specifically, WWD belongs to the Instruments - Control industry, which includes 8 individual stocks and currently sits at #83 in the Zacks Industry Rank. This group has gained an average of 26.79% so far this year, so WWD is performing better in this area.
WWD 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.