Investors focused on the Oils-Energy space have likely heard of Bloom Energy (BE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Bloom Energy is one of 268 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. BE is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BE's full-year earnings has moved 36.43% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, BE has moved about 93.84% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have lost about 37.11% on average. This means that Bloom Energy is outperforming the sector as a whole this year.
Looking more specifically, BE belongs to the Alternative Energy - Other industry, a group that includes 16 individual stocks and currently sits at #117 in the Zacks Industry Rank. Stocks in this group have lost about 15.19% so far this year, so BE is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to BE as it looks to continue its solid performance.