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Are Computer and Technology Stocks Lagging Daktronics (DAKT) This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Daktronics (DAKT - Free Report) 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? 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.
Daktronics is one of 617 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within 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 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. Daktronics is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DAKT's full-year earnings has moved 34.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that DAKT has returned about 78.4% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 21.5%. This means that Daktronics is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is Fabrinet (FN - Free Report) . The stock is up 37.6% year-to-date.
For Fabrinet, the consensus EPS estimate for the current year has increased 5.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Daktronics belongs to the Electronics - Miscellaneous Products industry, which includes 36 individual stocks and currently sits at #150 in the Zacks Industry Rank. This group has gained an average of 15% so far this year, so DAKT is performing better in this area.
In contrast, Fabrinet falls under the Electronics - Miscellaneous Components industry. Currently, this industry has 28 stocks and is ranked #100. Since the beginning of the year, the industry has moved +6.5%.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Daktronics and Fabrinet as they could maintain their solid performance.
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Are Computer and Technology Stocks Lagging Daktronics (DAKT) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Daktronics (DAKT - Free Report) 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? 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.
Daktronics is one of 617 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within 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 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. Daktronics is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DAKT's full-year earnings has moved 34.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that DAKT has returned about 78.4% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 21.5%. This means that Daktronics is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is Fabrinet (FN - Free Report) . The stock is up 37.6% year-to-date.
For Fabrinet, the consensus EPS estimate for the current year has increased 5.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Daktronics belongs to the Electronics - Miscellaneous Products industry, which includes 36 individual stocks and currently sits at #150 in the Zacks Industry Rank. This group has gained an average of 15% so far this year, so DAKT is performing better in this area.
In contrast, Fabrinet falls under the Electronics - Miscellaneous Components industry. Currently, this industry has 28 stocks and is ranked #100. Since the beginning of the year, the industry has moved +6.5%.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Daktronics and Fabrinet as they could maintain their solid performance.