Credit: Shutterstock photoInvestors focused on the Computer and Technology space have likely heard of Kemet (KEM), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Kemet is one of 626 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 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 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. KEM is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for KEM's full-year earnings has moved 27.29% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, KEM has gained about 69.85% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 11.67% on a year-to-date basis. This means that Kemet is outperforming the sector as a whole this year.
To break things down more, KEM belongs to the Electronics - Miscellaneous Components industry, a group that includes 34 individual companies and currently sits at #66 in the Zacks Industry Rank. Stocks in this group have gained about 2.43% so far this year, so KEM is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track KEM. The stock will be looking to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
