July 24, 2024

Watchever group

Inspired by Technology

Is Celestica (CLS) Stock Outpacing Its Computer and Technology Peers This Year? – March 7, 2022

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Celestica (CLS Free Report) been one of those stocks this year? 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.

Celestica is one of 666 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Celestica is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for CLS’ full-year earnings has moved 8.1% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Based on the most recent data, CLS has returned 3.4% so far this year. In comparison, Computer and Technology companies have returned an average of -15.7%. As we can see, Celestica is performing better than its sector in the calendar year.

One other Computer and Technology stock that has outperformed the sector so far this year is Cognizant (CTSH Free Report) . The stock is up 0.2% year-to-date.

In Cognizant’s case, the consensus EPS estimate for the current year increased 1.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Celestica belongs to the Electronics – Manufacturing Services industry, which includes 5 individual stocks and currently sits at #193 in the Zacks Industry Rank. On average, this group has lost an average of 15.5% so far this year, meaning that CLS is performing better in terms of year-to-date returns.

On the other hand, Cognizant belongs to the Business – Software Services industry. This 9-stock industry is currently ranked #83. The industry has moved -15.9% year to date.

Investors interested in the Computer and Technology sector may want to keep a close eye on Celestica and Cognizant as they attempt to continue their solid performance.