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. Has Flex (FLEX) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.
Flex is a member of the Computer and Technology sector. This group includes 656 individual stocks and currently holds a Zacks Sector Rank of #6. 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. Flex is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, 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 6.8% since the start of the calendar year. At the same time, Computer and Technology stocks have lost an average of 33.9%. 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 Impinj (PI). The stock is up 29.2% year-to-date.
In Impinj’s case, the consensus EPS estimate for the current year increased 30.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Flex is a member of the Electronics – Miscellaneous Products industry, which includes 27 individual companies and currently sits at #65 in the Zacks Industry Rank. This group has lost an average of 41.4% so far this year, so FLEX is performing better in this area.
In contrast, Impinj falls under the Electronics – Semiconductors industry. Currently, this industry has 40 stocks and is ranked #191. Since the beginning of the year, the industry has moved -38%.
Investors with an interest in Computer and Technology stocks should continue to track Flex and Impinj. These stocks will be looking to continue their solid performance.
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