Is Axcelis Technologies (ACLS) Stock Outpacing Its Computer and Technology Peers This Year?
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 Axcelis Technologies (ACLS) one of those stocks right now? Let’s take a closer look at the stock’s year-to-date performance to find out.
Axcelis Technologies is a member of our Computer and Technology group, which includes 647 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Axcelis Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ACLS’ full-year earnings has moved 8.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ACLS has returned 133.8% so far this year. At the same time, Computer and Technology stocks have gained an average of 26.4%. This shows that Axcelis Technologies is outperforming its peers so far this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Bruker (BRKR). The stock has returned 48.3% year-to-date.
For Bruker, the consensus EPS estimate for the current year has increased 8.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Axcelis Technologies belongs to the Electronics – Manufacturing Machinery industry, which includes 11 individual stocks and currently sits at #41 in the Zacks Industry Rank. On average, this group has gained an average of 35.2% so far this year, meaning that ACLS is performing better in terms of year-to-date returns.
On the other hand, Bruker belongs to the Instruments – Scientific industry. This 6-stock industry is currently ranked #57. The industry has moved +41.3% year to date.
Axcelis Technologies and Bruker could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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