Is PerkinElmer (PKI) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of PerkinElmer (PKI), but is the stock performing well in comparison to the rest of its sector peers? 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.
PerkinElmer is one of 612 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #11 in 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 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. PKI is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for PKI's full-year earnings has moved 35.71% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, PKI has gained about 28.94% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 27.87% on average. As we can see, PerkinElmer is performing better than its sector in the calendar year.
Breaking things down more, PKI is a member of the Instruments - Scientific industry, which includes 5 individual companies and currently sits at #203 in the Zacks Industry Rank. On average, this group has gained an average of 11.64% so far this year, meaning that PKI is performing better in terms of year-to-date returns.
PKI will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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