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Is Seagate Technology (STX) Outperforming Other Computer and Technology Stocks This Year?
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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 Seagate Technology (STX - Free Report) 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.
Seagate Technology is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #3. 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 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. STX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for STX's full-year earnings has moved 13.92% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, STX has gained about 29.61% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 10.40% on a year-to-date basis. This means that Seagate Technology is outperforming the sector as a whole this year.
Looking more specifically, STX belongs to the Computer- Storage Devices industry, a group that includes 9 individual stocks and currently sits at #123 in the Zacks Industry Rank. Stocks in this group have gained about 12.60% so far this year, so STX is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to STX as it looks to continue its solid performance.
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Is Seagate Technology (STX) Outperforming Other Computer and Technology Stocks This Year?
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 Seagate Technology (STX - Free Report) 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.
Seagate Technology is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #3. 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 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. STX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for STX's full-year earnings has moved 13.92% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, STX has gained about 29.61% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 10.40% on a year-to-date basis. This means that Seagate Technology is outperforming the sector as a whole this year.
Looking more specifically, STX belongs to the Computer- Storage Devices industry, a group that includes 9 individual stocks and currently sits at #123 in the Zacks Industry Rank. Stocks in this group have gained about 12.60% so far this year, so STX is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to STX as it looks to continue its solid performance.