Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has AAC Technologies Holdings Inc. (AACAY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
AAC Technologies Holdings Inc. is a member of the Computer and Technology sector. This group includes 605 individual stocks and currently holds a Zacks Sector Rank of #6. 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 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. AAC Technologies Holdings Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AACAY's full-year earnings has moved 9.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AACAY has returned 17.8% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 13.4% on average. As we can see, AAC Technologies Holdings Inc. is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is Magnite (MGNI). The stock is up 60.6% year-to-date.
The consensus estimate for Magnite's current year EPS has increased 14.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, AAC Technologies Holdings Inc. belongs to the Electronics - Miscellaneous Components industry, a group that includes 24 individual companies and currently sits at #71 in the Zacks Industry Rank. Stocks in this group have gained about 31.1% so far this year, so AACAY is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Magnite falls under the Internet - Software industry. Currently, this industry has 173 stocks and is ranked #80. Since the beginning of the year, the industry has moved +18.8%.
AAC Technologies Holdings Inc. and Magnite could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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AAC Technologies Holdings Inc. (AACAY): Free Stock Analysis Report Magnite, Inc. (MGNI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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