Yahoo Finance Is Clearfield (CLFD) Stock Outpacing Its Computer and Technology Peers This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Clearfield (CLFD) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Clearfield is a member of the Computer and Technology sector. This group includes 619 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Clearfield is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CLFD's full-year earnings has moved 22.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CLFD has returned about 9.7% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 8.9% on a year-to-date basis. As we can see, Clearfield is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Nutanix (NTNX). The stock has returned 30.4% year-to-date.
Over the past three months, Nutanix's consensus EPS estimate for the current year has increased 78%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Clearfield is a member of the Wireless Equipment industry, which includes 14 individual companies and currently sits at #85 in the Zacks Industry Rank. On average, this group has gained an average of 13.4% so far this year, meaning that CLFD is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Nutanix belongs to the Computers - IT Services industry. This 38-stock industry is currently ranked #60. The industry has moved +2.7% year to date.
Clearfield and Nutanix could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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Clearfield, Inc. (CLFD) : Free Stock Analysis Report
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