Is Badger Meter (BMI) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks
2024-07-17

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. Has Badger Meter (BMI) 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.

Badger Meter is one of 617 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within the Zacks Sector Rank. 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 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. Badger Meter is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for BMI's full-year earnings has moved 11.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, BMI has moved about 30.5% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 26.4%. This shows that Badger Meter is outperforming its peers so far this year.

Another stock in the Computer and Technology sector, Turtle Beach (HEAR), has outperformed the sector so far this year. The stock's year-to-date return is 46%.

Over the past three months, Turtle Beach's consensus EPS estimate for the current year has increased 47.7%. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Badger Meter is a member of the Instruments - Control industry, which includes 6 individual companies and currently sits at #12 in the Zacks Industry Rank. On average, this group has gained an average of 19.2% so far this year, meaning that BMI is performing better in terms of year-to-date returns.

Turtle Beach, however, belongs to the Computer - Peripheral Equipment industry. Currently, this 9-stock industry is ranked #19. The industry has moved -20.5% so far this year.

Investors with an interest in Computer and Technology stocks should continue to track Badger Meter and Turtle Beach. These stocks will be looking to continue their solid performance.

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