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 Gree (GREZF – Free Report) been one of those stocks this year? 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.
Gree is one of 668 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within 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 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. Gree is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for GREZF’s full-year earnings has moved 110% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that GREZF has returned about 1.5% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of -10.2% on a year-to-date basis. This shows that Gree is outperforming its peers so far this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is TSMC (TSM – Free Report) . The stock has returned 1.7% year-to-date.
The consensus estimate for TSMC’s current year EPS has increased 10.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Gree belongs to the Internet – Services industry, which includes 48 individual stocks and currently sits at #216 in the Zacks Industry Rank. Stocks in this group have lost about 6.3% so far this year, so GREZF is performing better this group in terms of year-to-date returns.
On the other hand, TSMC belongs to the Semiconductor – Circuit Foundry industry. This 1-stock industry is currently ranked #4. The industry has moved +1.7% year to date.
Gree and TSMC could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.