Is Axcelis Technologies (ACLS) Outperforming Other Computer and Technology Stocks This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Axcelis Technologies (ACLS) 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? 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 #8 within 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. Axcelis Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ACLS' full-year earnings has moved 9.4% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ACLS has returned 26.7% so far this year. In comparison, Computer and Technology companies have returned an average of -31.6%. This means that Axcelis Technologies is outperforming the sector as a whole this year.
HubSpot (HUBS) 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 9.2%.
The consensus estimate for HubSpot's current year EPS has increased 7.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Axcelis Technologies belongs to the Electronics - Manufacturing Machinery industry, a group that includes 10 individual companies and currently sits at #218 in the Zacks Industry Rank. Stocks in this group have lost about 31.1% so far this year, so ACLS is performing better this group in terms of year-to-date returns.
HubSpot, however, belongs to the Internet - Software industry. Currently, this 150-stock industry is ranked #46. The industry has moved -57.6% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on Axcelis Technologies and HubSpot as they attempt to continue their solid performance.
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