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 one of 311 companies in the Oils-Energy group. The Oils-Energy group currently sits at #10 within 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 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. ENPH is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ENPH's full-year earnings has moved 47.94% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ENPH has returned 289.01% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 10.08% on a year-to-date basis. As we can see, Enphase Energy is performing better than its sector in the calendar year.
Looking more specifically, ENPH belongs to the Solar industry, which includes 12 individual stocks and currently sits at #52 in the Zacks Industry Rank. On average, stocks in this group have gained 73.60% this year, meaning that ENPH is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on ENPH as it attempts to continue its solid performance.
Enphase Energy, Inc. (ENPH): Free Stock Analysis Report
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