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 PC-Tel (PCTI - 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.
PC-Tel is one of 637 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. PCTI is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for PCTI's full-year earnings has moved 220% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, PCTI has gained about 27.97% so far this year. In comparison, Computer and Technology companies have returned an average of 16.14%. This shows that PC-Tel is outperforming its peers so far this year.
To break things down more, PCTI belongs to the Wireless Equipment industry, a group that includes 15 individual companies and currently sits at #149 in the Zacks Industry Rank. On average, stocks in this group have gained 13.65% this year, meaning that PCTI is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to PCTI as it looks to continue its solid performance.