Yahoo Finance Are Computer and Technology Stocks Lagging Axcelis Technologies (ACLS) 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 654 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ACLS' full-year earnings has moved 2.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ACLS has moved about 6.5% on a year-to-date basis. At the same time, Computer and Technology stocks have lost an average of 35.2%. This shows that Axcelis Technologies is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Tencent Music Entertainment Group Sponsored ADR (TME). The stock is up 22.5% year-to-date.
Over the past three months, Tencent Music Entertainment Group Sponsored ADR's consensus EPS estimate for the current year has increased 20%. 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 #233 in the Zacks Industry Rank. On average, stocks in this group have lost 42.5% this year, meaning that ACLS is performing better in terms of year-to-date returns.
Tencent Music Entertainment Group Sponsored ADR, however, belongs to the Internet - Content industry. Currently, this 16-stock industry is ranked #75. The industry has moved -38.5% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on Axcelis Technologies and Tencent Music Entertainment Group Sponsored ADR as they attempt to continue their solid performance.
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Axcelis Technologies, Inc. (ACLS) : Free Stock Analysis Report
Tencent Music Entertainment Group Sponsored ADR (TME) : Free Stock Analysis Report
