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Has Seagate Technology Holdings (STX) Outpaced Other Business Services Stocks This Year?

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The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Seagate Technology Holdings (STX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Seagate Technology Holdings is one of 242 companies in the Business Services group. The Business Services group currently sits at #11 within 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. STX is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for STX's full-year earnings has moved 16.21% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, STX has returned 42.38% so far this year. Meanwhile, the Business Services sector has returned an average of -13.46% on a year-to-date basis. This means that Seagate Technology Holdings is performing better than its sector in terms of year-to-date returns.

Looking more specifically, STX belongs to the Technology Services industry, which includes 104 individual stocks and currently sits at #194 in the Zacks Industry Rank. Stocks in this group have lost about 16.72% so far this year, so STX is performing better this group in terms of year-to-date returns.

STX will likely be looking to continue its solid performance, so investors interested in Business Services stocks should continue to pay close attention to the company.


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