Has Celestica (CLS) Outpaced Other Computer and Technology Stocks This Year? – February 18, 2022
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 Celestica (CLS – Free Report) one of those stocks right now? Let’s take a closer look at the stock’s year-to-date performance to find out.
Celestica is one of 667 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 in 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Celestica is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CLS’ full-year earnings has moved 8.1% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
According to our latest data, CLS has moved about 10.7% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of -12.9%. As we can see, Celestica is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is Fair Isaac (FICO – Free Report) . The stock is up 17.4% year-to-date.
For Fair Isaac, the consensus EPS estimate for the current year has increased 14.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Celestica belongs to the Electronics – Manufacturing Services industry, a group that includes 5 individual companies and currently sits at #195 in the Zacks Industry Rank. Stocks in this group have lost about 10.7% so far this year, so CLS is performing better this group in terms of year-to-date returns.
Fair Isaac, however, belongs to the Computers – IT Services industry. Currently, this 38-stock industry is ranked #101. The industry has moved -13.8% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on Celestica and Fair Isaac as they attempt to continue their solid performance.
