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

Zacks Equity Research
·2-min read

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Avnet (AVT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 664 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Avnet is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for AVT's full-year earnings has moved 16.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Based on the latest available data, AVT has gained about 1.2% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -9.1% on a year-to-date basis. This shows that Avnet is outperforming its peers so far this year.

Another Computer and Technology stock, which has outperformed the sector so far this year, is BWX Technologies (BWXT). The stock has returned 14.8% year-to-date.

Over the past three months, BWX Technologies' consensus EPS estimate for the current year has increased 1.1%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Avnet belongs to the Electronics - Parts Distribution industry, a group that includes 4 individual stocks and currently sits at #8 in the Zacks Industry Rank. This group has lost an average of 4.6% so far this year, so AVT is performing better in this area.

On the other hand, BWX Technologies belongs to the Electronics - Miscellaneous Components industry. This 28-stock industry is currently ranked #218. The industry has moved -13.4% year to date.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Avnet and BWX Technologies as they could maintain their solid performance.


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