Investors focused on the Computer and Technology space have likely heard of Hewlett Packard Enterprise (HPE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of HPE and the rest of the Computer and Technology group's stocks.
Hewlett Packard Enterprise is one of 637 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. 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 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. HPE is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for HPE's full-year earnings has moved 2.88% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, HPE has returned 6.66% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 12.64% on average. As we can see, Hewlett Packard Enterprise is performing better than its sector in the calendar year.
Looking more specifically, HPE belongs to the Computer - Integrated Systems industry, a group that includes 8 individual stocks and currently sits at #221 in the Zacks Industry Rank. On average, this group has gained an average of 19.42% so far this year, meaning that HPE is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track HPE. The stock will be looking to continue its solid performance.