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? 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.
Hewlett Packard Enterprise is one of 629 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. HPE is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for HPE's full-year earnings has moved 5.04% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, HPE has returned 29.30% so far this year. At the same time, Computer and Technology stocks have gained an average of 28.23%. This means that Hewlett Packard Enterprise is performing better than its sector in terms of year-to-date returns.
Looking more specifically, HPE belongs to the Computer - Integrated Systems industry, a group that includes 8 individual stocks and currently sits at #201 in the Zacks Industry Rank. Stocks in this group have gained about 29.26% so far this year, so HPE 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 HPE. The stock will be looking to continue its solid performance.