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Is Seagate Technology Holdings (STX) Stock Outpacing Its Business Services Peers This Year?
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Investors focused on the Business Services space have likely heard of Seagate Technology Holdings (STX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Seagate Technology Holdings is a member of the Business Services sector. This group includes 241 individual stocks and currently holds a Zacks Sector Rank of #11. 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 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. STX is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for STX's full-year earnings has moved 23.86% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that STX has returned about 40.28% since the start of the calendar year. Meanwhile, the Business Services sector has returned an average of -13.74% on a year-to-date basis. This means that Seagate Technology Holdings is outperforming the sector as a whole this year.
Looking more specifically, STX belongs to the Technology Services industry, which includes 103 individual stocks and currently sits at #183 in the Zacks Industry Rank. On average, stocks in this group have lost 20.98% this year, meaning that STX is performing better in terms of year-to-date returns.
STX will likely be looking to continue its solid performance, so investors interested in Business Services stocks should continue to pay close attention to the company.
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Is Seagate Technology Holdings (STX) Stock Outpacing Its Business Services Peers This Year?
Investors focused on the Business Services space have likely heard of Seagate Technology Holdings (STX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Seagate Technology Holdings is a member of the Business Services sector. This group includes 241 individual stocks and currently holds a Zacks Sector Rank of #11. 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 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. STX is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for STX's full-year earnings has moved 23.86% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that STX has returned about 40.28% since the start of the calendar year. Meanwhile, the Business Services sector has returned an average of -13.74% on a year-to-date basis. This means that Seagate Technology Holdings is outperforming the sector as a whole this year.
Looking more specifically, STX belongs to the Technology Services industry, which includes 103 individual stocks and currently sits at #183 in the Zacks Industry Rank. On average, stocks in this group have lost 20.98% this year, meaning that STX is performing better in terms of year-to-date returns.
STX will likely be looking to continue its solid performance, so investors interested in Business Services stocks should continue to pay close attention to the company.