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? 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.
AAC Technologies Holdings Inc. is a member of the Computer and Technology sector. This group includes 619 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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. AAC Technologies Holdings Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AACAY's full-year earnings has moved 18.2% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, AACAY has moved about 29.7% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 26.7% on average. This shows that AAC Technologies Holdings Inc. is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is OneSpan (OSPN). The stock is up 56% year-to-date.
Over the past three months, OneSpan's consensus EPS estimate for the current year has increased 18.1%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, AAC Technologies Holdings Inc. belongs to the Electronics - Miscellaneous Components industry, a group that includes 28 individual companies and currently sits at #46 in the Zacks Industry Rank. This group has gained an average of 7.5% so far this year, so AACAY is performing better in this area.
On the other hand, OneSpan belongs to the Internet - Software industry. This 145-stock industry is currently ranked #33. The industry has moved +25.9% year to date.
AAC Technologies Holdings Inc. and OneSpan could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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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.
