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Ultra Clean Holdings (UCTT) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·3-min read

Ultra Clean Holdings (UCTT) closed at $58.47 in the latest trading session, marking a +1.94% move from the prior day. This change outpaced the S&P 500's 0.64% gain on the day. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.46%.

Coming into today, shares of the chipmaking equipment services company had gained 7.34% in the past month. In that same time, the Computer and Technology sector gained 1.46%, while the S&P 500 gained 4.56%.

Ultra Clean Holdings will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.03, up 27.16% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $609.25 million, up 64.83% from the prior-year quarter.

Any recent changes to analyst estimates for Ultra Clean Holdings should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Ultra Clean Holdings is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, Ultra Clean Holdings is currently trading at a Forward P/E ratio of 13.78. For comparison, its industry has an average Forward P/E of 15.14, which means Ultra Clean Holdings is trading at a discount to the group.

Also, we should mention that UCTT has a PEG ratio of 1.72. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. UCTT's industry had an average PEG ratio of 1.03 as of yesterday's close.

The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 39, putting it in the top 16% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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Ultra Clean Holdings, Inc. (UCTT) : Free Stock Analysis Report
 
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