Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Garmin (GRMN) one of those stocks right now? 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.
Garmin is a member of the Computer and Technology sector. This group includes 632 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. GRMN is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for GRMN’s full-year earnings has moved 13.22% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Our latest available data shows that GRMN has returned about 1.59% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 1.24% on average. This means that Garmin is performing better than its sector in terms of year-to-date returns.
Breaking things down more, GRMN is a member of the Electronics – Miscellaneous Products industry, which includes 20 individual companies and currently sits at #84 in the Zacks Industry Rank. This group has gained an average of 5.07% so far this year, so GRMN is slightly underperforming its industry in this area.
Investors in the Computer and Technology sector will want to keep a close eye on GRMN as it attempts to continue its solid performance.
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