Is Calix (CALX) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Calix (CALX), 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 CALX and the rest of the Computer and Technology group’s stocks.
Calix is a member of our Computer and Technology group, which includes 604 different companies and currently sits at #6 in the Zacks Sector Rank. 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. CALX is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CALX’s full-year earnings has moved 2,175% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the latest available data, CALX has gained about 173% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 17.40% on a year-to-date basis. This means that Calix is performing better than its sector in terms of year-to-date returns.
Breaking things down more, CALX is a member of the Communication – Infrastructure industry, which includes 5 individual companies and currently sits at #49 in the Zacks Industry Rank. On average, this group has gained an average of 56.11% so far this year, meaning that CALX is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on CALX as it attempts to continue its solid performance.
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