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Investors focused on the Computer and Technology space have likely heard of Calix (CALX), 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.
Calix is one of 627 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. CALX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CALX's full-year earnings has moved 8.06% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CALX has gained about 42.44% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 2.92% on average. This means that Calix is outperforming the sector as a whole this year.
Looking more specifically, CALX belongs to the Internet - Software industry, a group that includes 104 individual stocks and currently sits at #186 in the Zacks Industry Rank. On average, this group has lost an average of 0.22% so far this year, meaning that CALX is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CALX as it looks to continue its solid performance.
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