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. Is Fabrinet (FN) one of those stocks right now? 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.
Fabrinet is a member of our Computer and Technology group, which includes 642 different companies and currently sits at #7 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. FN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for FN's full-year earnings has moved 3.12% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, FN has moved about 2.05% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 17.20% on a year-to-date basis. This means that Fabrinet is performing better than its sector in terms of year-to-date returns.
Breaking things down more, FN is a member of the Electronics - Miscellaneous Components industry, which includes 32 individual companies and currently sits at #173 in the Zacks Industry Rank. On average, this group has gained an average of 16.44% so far this year, meaning that FN is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on FN as it attempts to continue its solid performance.
Fabrinet (FN): Free Stock Analysis Report
Original post