The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Axcelis Technologies (ACLS) 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.
Axcelis Technologies is one of 653 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 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 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. Axcelis Technologies is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ACLS’ full-year earnings has moved 2.2% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the latest available data, ACLS has gained about 6.5% so far this year. At the same time, Computer and Technology stocks have lost an average of 31%. This means that Axcelis Technologies is performing better than its sector in terms of year-to-date returns.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Perion Network (PERI). The stock has returned 13.4% year-to-date.
The consensus estimate for Perion Network’s current year EPS has increased 17.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Axcelis Technologies is a member of the Electronics – Manufacturing Machinery industry, which includes 10 individual companies and currently sits at #236 in the Zacks Industry Rank. Stocks in this group have lost about 38.5% so far this year, so ACLS is performing better this group in terms of year-to-date returns.
Perion Network, however, belongs to the Internet – Content industry. Currently, this 16-stock industry is ranked #83. The industry has moved -37.7% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track Axcelis Technologies and Perion Network. These stocks will be looking to continue their solid performance.
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