Investors focused on the Computer and Technology space have likely heard of Lenovo Group (LNVGY), but is the stock performing well in comparison to the rest of its sector peers? 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.
Lenovo Group is one of 629 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. 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 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. LNVGY is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for LNVGY's full-year earnings has moved 14.64% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, LNVGY has returned 38.52% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 11.71% on a year-to-date basis. This shows that Lenovo Group is outperforming its peers so far this year.
Looking more specifically, LNVGY belongs to the Computer - Mini computers industry, which includes 4 individual stocks and currently sits at #3 in the Zacks Industry Rank. Stocks in this group have gained about 0.88% so far this year, so LNVGY 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 LNVGY. 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.
