Is Enphase Energy (ENPH) Stock Outpacing Its Oils-Energy Peers This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Enphase Energy (ENPH) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of ENPH and the rest of the Oils-Energy group's stocks.
Enphase Energy is one of 314 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #12 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. 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 90.10% 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 91.97% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 14.35% 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 #19 in the Zacks Industry Rank. On average, this group has gained an average of 27.77% so far 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.
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