February 25, 2024


It's the Technology

Is Clearfield (CLFD) Outperforming Other Computer and Technology Stocks 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. Has Clearfield (CLFD) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.

Clearfield is a member of our Computer and Technology group, which includes 647 different companies and currently sits at #8 in 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. 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 19.4% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

Based on the latest available data, CLFD has gained about 164.5% so far this year. In comparison, Computer and Technology companies have returned an average of 25.7%. This means that Clearfield is performing better than its sector in terms of year-to-date returns.

Another stock in the Computer and Technology sector, Celestica (CLS), has outperformed the sector so far this year. The stock’s year-to-date return is 31%.

Over the past three months, Celestica’s consensus EPS estimate for the current year has increased 1.9%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Clearfield belongs to the Wireless Equipment industry, a group that includes 16 individual stocks and currently sits at #161 in the Zacks Industry Rank. On average, this group has gained an average of 20.1% so far this year, meaning that CLFD is performing better in terms of year-to-date returns.

On the other hand, Celestica belongs to the Electronics – Manufacturing Services industry. This 5-stock industry is currently ranked #237. The industry has moved +31.5% year to date.

Investors with an interest in Computer and Technology stocks should continue to track Clearfield and Celestica. These stocks will be looking to continue their solid performance.

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