The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Allient (ALNT) 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.
Allient is one of 607 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 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. Allient is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ALNT's full-year earnings has moved 5.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ALNT has gained about 23.1% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -3.8% on a year-to-date basis. As we can see, Allient is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, ASML (ASML), has outperformed the sector so far this year. The stock's year-to-date return is 5.7%.
In ASML's case, the consensus EPS estimate for the current year increased 7.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Allient belongs to the Electronics - Miscellaneous Components industry, which includes 26 individual stocks and currently sits at #77 in the Zacks Industry Rank. On average, stocks in this group have lost 1.4% this year, meaning that ALNT is performing better in terms of year-to-date returns.
In contrast, ASML falls under the Semiconductor Equipment - Wafer Fabrication industry. Currently, this industry has 2 stocks and is ranked #20. Since the beginning of the year, the industry has moved +5.6%.
Investors with an interest in Computer and Technology stocks should continue to track Allient and ASML. These stocks will be looking to continue their solid performance.
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Allient Inc. (ALNT): Free Stock Analysis Report ASML Holding N.V. (ASML): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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