Is AMETEK (AME) Outperforming Other Computer and Technology Stocks This Year?

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Ametek (AME) 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.

Ametek is one of 619 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 in 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Ametek is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for AME's full-year earnings has moved 3.3% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, AME has gained about 20.2% so far this year. In comparison, Computer and Technology companies have returned an average of 19.3%. This means that Ametek is performing better than its sector in terms of year-to-date returns.

One other Computer and Technology stock that has outperformed the sector so far this year is Corning (GLW). The stock is up 60.9% year-to-date.

For Corning, the consensus EPS estimate for the current year has increased 3.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Ametek is a member of the Electronics - Testing Equipment industry, which includes 4 individual companies and currently sits at #18 in the Zacks Industry Rank. Stocks in this group have gained about 19.2% so far this year, so AME is performing better this group in terms of year-to-date returns.

Corning, however, belongs to the Communication - Components industry. Currently, this 13-stock industry is ranked #54. The industry has moved +78.8% so far this year.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Ametek and Corning as they could maintain their solid performance.

Zacks' Research Chief Names "Stock Most Likely to Double"

Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.

This innovative software-as-a-service firm upped its user base +22% year over year. That rate is increasing and margins are expanding as AI efficiencies take effect. Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research