July 16, 2024


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Is Allied Motion Technologies (AMOT) Stock Outpacing Its Computer and Technology Peers This Year?

Is Allied Motion Technologies (AMOT) Stock Outpacing Its Computer and Technology Peers 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 Allied Motion Technologies (AMOT) 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.

Allied Motion Technologies is one of 668 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Allied Motion Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for AMOT’s full-year earnings has moved 30.2% higher within the past quarter. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.

According to our latest data, AMOT has moved about 1.5% on a year-to-date basis. At the same time, Computer and Technology stocks have lost an average of 6.2%. This means that Allied Motion Technologies is performing better than its sector in terms of year-to-date returns.

Avnet (AVT) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 0.8%.

In Avnet’s case, the consensus EPS estimate for the current year increased 12.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Allied Motion Technologies belongs to the Instruments – Control industry, which includes 7 individual stocks and currently sits at #53 in the Zacks Industry Rank. This group has lost an average of 7.2% so far this year, so AMOT is performing better in this area.

In contrast, Avnet falls under the Electronics – Parts Distribution industry. Currently, this industry has 4 stocks and is ranked #14. Since the beginning of the year, the industry has moved -3.3%.

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

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Allied Motion Technologies, Inc. (AMOT) : Free Stock Analysis Report
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