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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies 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 608 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within 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. Flex is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FLEX's full-year earnings has moved 8.9% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, FLEX has returned 12.4% so far this year. At the same time, Computer and Technology stocks have gained an average of 1%. This means that Flex is performing better than its sector in terms of year-to-date returns.
Another stock in the Computer and Technology sector, BWX Technologies (BWXT), has outperformed the sector so far this year. The stock's year-to-date return is 2.7%.
In BWX Technologies' case, the consensus EPS estimate for the current year increased 0.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Flex belongs to the Electronics - Miscellaneous Products industry, a group that includes 36 individual companies and currently sits at #134 in the Zacks Industry Rank. On average, stocks in this group have gained 3.6% this year, meaning that FLEX is performing better in terms of year-to-date returns.
BWX Technologies, however, belongs to the Electronics - Miscellaneous Components industry. Currently, this 26-stock industry is ranked #138. The industry has moved +1.1% so far this year.
Flex and BWX Technologies could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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