Investors focused on the Computer and Technology space have likely heard of HP (HPQ), but is the stock performing well in comparison to the rest of its sector peers? 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.
HP is a member of our Computer and Technology group, which includes 646 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. HPQ is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for HPQ’s full-year earnings has moved 6.73% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the most recent data, HPQ has returned 23.91% so far this year. In comparison, Computer and Technology companies have returned an average of 23.16%. As we can see, HP is performing better than its sector in the calendar year.
Looking more specifically, HPQ belongs to the Computer – Mini computers industry, which includes 4 individual stocks and currently sits at #27 in the Zacks Industry Rank. On average, stocks in this group have gained 13.79% this year, meaning that HPQ is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on HPQ as it attempts to continue its solid performance.
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