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Has HP (HPQ) Outpaced Other Computer and Technology Stocks This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. HP (HPQ - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of HPQ and the rest of the Computer and Technology group's stocks.
HP is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. HPQ is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for HPQ's full-year earnings has moved 5.54% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that HPQ has returned about 10.51% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 0.75% on average. This means that HP is performing better than its sector in terms of year-to-date returns.
Looking more specifically, HPQ belongs to the Computer - Mini computers industry, a group that includes 4 individual stocks and currently sits at #30 in the Zacks Industry Rank. This group has gained an average of 0.18% so far this year, so HPQ is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on HPQ as it attempts to continue its solid performance.
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Has HP (HPQ) Outpaced Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. HP (HPQ - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of HPQ and the rest of the Computer and Technology group's stocks.
HP is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. HPQ is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for HPQ's full-year earnings has moved 5.54% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that HPQ has returned about 10.51% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 0.75% on average. This means that HP is performing better than its sector in terms of year-to-date returns.
Looking more specifically, HPQ belongs to the Computer - Mini computers industry, a group that includes 4 individual stocks and currently sits at #30 in the Zacks Industry Rank. This group has gained an average of 0.18% so far this year, so HPQ is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on HPQ as it attempts to continue its solid performance.