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. Is Itron (ITRI) 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.
Itron is a member of the Computer and Technology sector. This group includes 605 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. Itron is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ITRI's full-year earnings has moved 11.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ITRI has gained about 13.2% so far this year. At the same time, Computer and Technology stocks have gained an average of 12.9%. This means that Itron is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is Crexendo (CXDO). The stock is up 20.8% year-to-date.
Over the past three months, Crexendo's consensus EPS estimate for the current year has increased 17.9%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Itron belongs to the Electronics - Testing Equipment industry, a group that includes 4 individual stocks and currently sits at #191 in the Zacks Industry Rank. Stocks in this group have lost about 7.5% so far this year, so ITRI is performing better this group in terms of year-to-date returns.
On the other hand, Crexendo belongs to the Internet - Services industry. This 34-stock industry is currently ranked #105. The industry has moved +13.3% year to date.
Investors with an interest in Computer and Technology stocks should continue to track Itron and Crexendo. These stocks will be looking to continue their solid performance.
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Itron, Inc. (ITRI): Free Stock Analysis Report Crexendo Inc. (CXDO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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