Are Computer and Technology Stocks Lagging AAC Technologies (AACAY) 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. Has AAC Technologies Holdings Inc. (AACAY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
AAC Technologies Holdings Inc. is a member of the Computer and Technology sector. This group includes 616 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AAC Technologies Holdings Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AACAY's full-year earnings has moved 2.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, AACAY has moved about 38.8% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 24.6% on a year-to-date basis. This means that AAC Technologies Holdings Inc. is outperforming the sector as a whole this year.
Ceragon Networks (CRNT) 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 26.4%.
For Ceragon Networks, the consensus EPS estimate for the current year has increased 33.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, AAC Technologies Holdings Inc. belongs to the Electronics - Miscellaneous Components industry, a group that includes 28 individual stocks and currently sits at #66 in the Zacks Industry Rank. On average, stocks in this group have gained 7.5% this year, meaning that AACAY is performing better in terms of year-to-date returns.
Ceragon Networks, however, belongs to the Wireless Non-US industry. Currently, this 13-stock industry is ranked #37. The industry has moved +2.9% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track AAC Technologies Holdings Inc. and Ceragon Networks. These stocks will be looking to continue their solid performance.
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AAC Technologies Holdings Inc. (AACAY) : Free Stock Analysis Report
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