The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Avnet (AVT) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Avnet is one of 611 companies in the Computer and Technology group. The Computer and Technology group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Avnet is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AVT's full-year earnings has moved 0.1% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AVT has moved about 29.8% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 27.8%. This shows that Avnet is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Littelfuse (LFUS), has outperformed the sector so far this year. The stock's year-to-date return is 28%.
In Littelfuse's case, the consensus EPS estimate for the current year increased 3.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Avnet is a member of the Electronics - Parts Distribution industry, which includes 4 individual companies and currently sits at #18 in the Zacks Industry Rank. Stocks in this group have gained about 38.4% so far this year, so AVT is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Littelfuse falls under the Electronics - Miscellaneous Components industry. Currently, this industry has 26 stocks and is ranked #40. Since the beginning of the year, the industry has moved +55.8%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Avnet and Littelfuse as they attempt to continue their solid performance.
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Avnet, Inc. (AVT): Free Stock Analysis Report Littelfuse, Inc. (LFUS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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