Are Computer and Technology Stocks Lagging Flex (FLEX) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Flex (FLEX) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Flex is a member of the Computer and Technology sector. This group includes 654 individual stocks and currently holds a Zacks Sector Rank of #6. 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. Flex is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for FLEX's full-year earnings has moved 4.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, FLEX has returned 19.1% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 34% on average. This shows that Flex is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Sanmina (SANM). The stock is up 43.5% year-to-date.
For Sanmina, the consensus EPS estimate for the current year has increased 17.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Flex belongs to the Electronics - Miscellaneous Products industry, which includes 27 individual stocks and currently sits at #140 in the Zacks Industry Rank. On average, stocks in this group have lost 37.2% this year, meaning that FLEX is performing better in terms of year-to-date returns.
Sanmina, however, belongs to the Electronics - Manufacturing Services industry. Currently, this 5-stock industry is ranked #1. The industry has moved +7.3% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on Flex and Sanmina as they attempt to continue their solid performance.
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Flex Ltd. (FLEX) : Free Stock Analysis Report
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