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. Is Plantronics (PLT) one of those stocks right now? 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.
Plantronics is a member of our Computer and Technology group, which includes 644 different companies and currently sits at #6 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 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. PLT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for PLT’s full-year earnings has moved 106.95% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Our latest available data shows that PLT has returned about 49.73% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 12.09%. This means that Plantronics is outperforming the sector as a whole this year.
Breaking things down more, PLT is a member of the Communication – Components industry, which includes 24 individual companies and currently sits at #28 in the Zacks Industry Rank. Stocks in this group have gained about 20.30% so far this year, so PLT is performing better this group in terms of year-to-date returns.
PLT will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.