Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Clearfield (CLFD - 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.
Clearfield is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #4. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CLFD is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CLFD's full-year earnings has moved 16% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, CLFD has returned 12.24% so far this year. In comparison, Computer and Technology companies have returned an average of 11.14%. As we can see, Clearfield is performing better than its sector in the calendar year.
Looking more specifically, CLFD belongs to the Wireless Equipment industry, a group that includes 18 individual stocks and currently sits at #61 in the Zacks Industry Rank. Stocks in this group have gained about 10.44% so far this year, so CLFD is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track CLFD. The stock will be looking to continue its solid performance.