Is Celestica (CLS) Stock Outpacing Its Computer and Technology Peers This Year?

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Celestica (CLS) been one of those stocks this year? 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.Celestica is one of 608 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 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Celestica is currently sporting a Zacks Rank of #2 (Buy).Within the past quarter, the Zacks Consensus Estimate for CLS' full-year earnings has moved 0.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.Based on the latest available data, CLS has gained about 62.7% so far this year. At the same time, Computer and Technology stocks have gained an average of 5.5%. As we can see, Celestica is performing better than its sector in the calendar year.Allient (ALNT) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 48.7%.The consensus estimate for Allient's current year EPS has increased 4.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).To break things down more, Celestica belongs to the Electronics - Manufacturing Services industry, a group that includes 4 individual companies and currently sits at #39 in the Zacks Industry Rank. On average, stocks in this group have gained 40.3% this year, meaning that CLS is performing better in terms of year-to-date returns. On the other hand, Allient belongs to the Electronics - Miscellaneous Components industry. This 26-stock industry is currently ranked #62. The industry has moved +10.4% year to date.Investors with an interest in Computer and Technology stocks should continue to track Celestica and Allient. These stocks will be looking to continue their solid performance.Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Celestica, Inc. (CLS): Free Stock Analysis Report Allient Inc. (ALNT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks