Has Enphase Energy (ENPH) Outpaced Other Oils-Energy Stocks This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Enphase Energy (ENPH) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Enphase Energy is a member of our Oils-Energy group, which includes 277 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. ENPH is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ENPH's full-year earnings has moved 17.03% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ENPH has gained about 14.50% so far this year. At the same time, Oils-Energy stocks have lost an average of 42.40%. This shows that Enphase Energy is outperforming its peers so far this year.
To break things down more, ENPH belongs to the Solar industry, a group that includes 12 individual companies and currently sits at #61 in the Zacks Industry Rank. On average, this group has lost an average of 22.17% so far this year, meaning that ENPH is performing better in terms of year-to-date returns.
Investors with an interest in Oils-Energy stocks should continue to track ENPH. The stock will be looking to continue its solid performance.
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