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Has Avnet (AVT) Outpaced Other Computer and Technology Stocks This Year?

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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. 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 663 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. Avnet is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for AVT's full-year earnings has moved 20.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, AVT has moved about 2.8% on a year-to-date basis. At the same time, Computer and Technology stocks have lost an average of 30.3%. As we can see, Avnet is performing better than its sector in the calendar year.

Aspen Technology (AZPN) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 29.8%.

In Aspen Technology's case, the consensus EPS estimate for the current year increased 5.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, Avnet is a member of the Electronics - Parts Distribution industry, which includes 5 individual companies and currently sits at #2 in the Zacks Industry Rank. Stocks in this group have lost about 15.3% so far this year, so AVT is performing better this group in terms of year-to-date returns.

On the other hand, Aspen Technology belongs to the Internet - Software industry. This 148-stock industry is currently ranked #164. The industry has moved -53.2% year to date.

Investors with an interest in Computer and Technology stocks should continue to track Avnet and Aspen Technology. These stocks will be looking to continue their solid performance.


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