The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has American Superconductor (AMSC) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
American Superconductor is a member of our Computer and Technology group, which includes 645 different companies and currently sits at #4 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. AMSC is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for AMSC's full-year earnings has moved 4.50% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AMSC has gained about 37.49% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 11.46% on average. As we can see, American Superconductor is performing better than its sector in the calendar year.
Looking more specifically, AMSC belongs to the Electronics - Miscellaneous Components industry, a group that includes 32 individual stocks and currently sits at #137 in the Zacks Industry Rank. This group has gained an average of 12.54% so far this year, so AMSC is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track AMSC. The stock will be looking to continue its solid performance.
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