The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is SYNNEX (SNX - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
SYNNEX is a member of the Computer and Technology sector. This group includes 637 individual stocks and currently holds a Zacks Sector Rank of #10. 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. SNX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SNX's full-year earnings has moved 1.60% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, SNX has returned 24.76% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 24.22% on a year-to-date basis. This means that SYNNEX is performing better than its sector in terms of year-to-date returns.
Breaking things down more, SNX is a member of the Business - Software Services industry, which includes 11 individual companies and currently sits at #191 in the Zacks Industry Rank. On average, this group has gained an average of 16.86% so far this year, meaning that SNX 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 SNX as it attempts to continue its solid performance.