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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. Calix (CALX) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of CALX and the rest of the Computer and Technology group's stocks.
Calix is a member of our Computer and Technology group, which includes 632 different companies and currently sits at #7 in 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 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).
Within the past quarter, the Zacks Consensus Estimate for CALX's full-year earnings has moved 6.99% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CALX has returned 6.82% so far this year. At the same time, Computer and Technology stocks have gained an average of 6.27%. This means that Calix is performing better than its sector in terms of year-to-date returns.
Looking more specifically, CALX belongs to the Communication - Infrastructure industry, which includes 7 individual stocks and currently sits at #205 in the Zacks Industry Rank. This group has gained an average of 12.48% so far this year, so CALX is slightly underperforming its industry in this area.
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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