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 Flex (FLEX) one of those stocks right now? 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.
Flex is one of 655 companies in the Computer and Technology group. The Computer and Technology group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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).
Over the past 90 days, 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.
Our latest available data shows that FLEX has returned about 16% since the start of the calendar year. At the same time, Computer and Technology stocks have lost an average of 30.9%. This means that Flex is outperforming the sector as a whole this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Sanmina (SANM). The stock is up 56.9% year-to-date.
The consensus estimate for Sanmina’s current year EPS 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, a group that includes 27 individual stocks and currently sits at #139 in the Zacks Industry Rank. Stocks in this group have lost about 35.5% so far this year, so FLEX is performing better this group in terms of year-to-date returns.
Sanmina, however, belongs to the Electronics – Manufacturing Services industry. Currently, this 5-stock industry is ranked #4. The industry has moved +10.1% 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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