Investors focused on the Computer and Technology space have likely heard of Carrier Global (CARR), but is the stock performing well in comparison to the rest of its sector peers? 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.
Carrier Global is a member of the Computer and Technology sector. This group includes 632 individual stocks and currently holds a Zacks Sector Rank of #9. 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. CARR is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CARR's full-year earnings has moved 7.66% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CARR has returned 10.66% so far this year. At the same time, Computer and Technology stocks have gained an average of 1.06%. This shows that Carrier Global is outperforming its peers so far this year.
To break things down more, CARR belongs to the Electronics - Miscellaneous Products industry, a group that includes 20 individual companies and currently sits at #50 in the Zacks Industry Rank. On average, stocks in this group have gained 6.51% this year, meaning that CARR is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on CARR as it attempts to continue its solid performance.
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