Has SunPower (SPWR) Outpaced Other Oils-Energy Stocks This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is SunPower (SPWR) 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.
SunPower is one of 258 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #14 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 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. SPWR is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for SPWR's full-year earnings has moved 41.63% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SPWR has gained about 113.59% so far this year. Meanwhile, stocks in the Oils-Energy group have lost about 41.11% on average. This means that SunPower is outperforming the sector as a whole this year.
Breaking things down more, SPWR is a member of the Solar industry, which includes 12 individual companies and currently sits at #91 in the Zacks Industry Rank. On average, this group has gained an average of 164.80% so far this year, meaning that SPWR is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on SPWR as it attempts to continue its solid performance.
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