Is Lenovo Group (LNVGY) 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. Lenovo Group (LNVGY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector […]

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. Lenovo Group (LNVGY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of LNVGY and the rest of the Computer and Technology group’s stocks.

Lenovo Group is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #7. 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. LNVGY is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for LNVGY’s full-year earnings has moved 14.64{51a8f47ed26b62794f5b3aaed8601076d65294f6278e23b79b91f33f521836ea} higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, LNVGY has moved about 35.96{51a8f47ed26b62794f5b3aaed8601076d65294f6278e23b79b91f33f521836ea} on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 0.84{51a8f47ed26b62794f5b3aaed8601076d65294f6278e23b79b91f33f521836ea}. This means that Lenovo Group is performing better than its sector in terms of year-to-date returns.

To break things down more, LNVGY belongs to the Computer – Mini computers industry, a group that includes 4 individual companies and currently sits at #19 in the Zacks Industry Rank. Stocks in this group have lost about 8.90{51a8f47ed26b62794f5b3aaed8601076d65294f6278e23b79b91f33f521836ea} so far this year, so LNVGY is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to LNVGY as it looks to continue its solid performance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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