Is Ameresco (AMRC) Stock Outpacing Its Oils-Energy Peers This Year?
Investors focused on the Oils-Energy space have likely heard of Ameresco (AMRC), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AMRC and the rest of the Oils-Energy group's stocks.
Ameresco is one of 272 companies in the Oils-Energy group. The Oils-Energy group currently sits at #4 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 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. AMRC is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for AMRC's full-year earnings has moved 2.50% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AMRC has returned 66.11% so far this year. Meanwhile, the Oils-Energy sector has returned an average of -34.18% on a year-to-date basis. As we can see, Ameresco is performing better than its sector in the calendar year.
Looking more specifically, AMRC belongs to the Alternative Energy - Other industry, which includes 17 individual stocks and currently sits at #150 in the Zacks Industry Rank. On average, stocks in this group have lost 14.96% this year, meaning that AMRC is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on AMRC as it attempts to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.