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Is Array Technologies (ARRY) Outperforming Other Oils-Energy Stocks This Year?
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The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Array Technologies, Inc. (ARRY - Free Report) one of those stocks right now? 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.
Array Technologies, Inc. is a member of our Oils-Energy group, which includes 250 different companies and currently sits at #15 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 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. Array Technologies, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ARRY's full-year earnings has moved 13.3% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ARRY has returned about 4.5% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of -3.4% on a year-to-date basis. As we can see, Array Technologies, Inc. is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Civitas Resources (CIVI - Free Report) . The stock has returned 21% year-to-date.
For Civitas Resources, the consensus EPS estimate for the current year has increased 34.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Array Technologies, Inc. belongs to the Solar industry, a group that includes 17 individual companies and currently sits at #54 in the Zacks Industry Rank. Stocks in this group have lost about 11.7% so far this year, so ARRY is performing better this group in terms of year-to-date returns.
On the other hand, Civitas Resources belongs to the Oil and Gas - Exploration and Production - United States industry. This 41-stock industry is currently ranked #223. The industry has moved -6.9% year to date.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Array Technologies, Inc. and Civitas Resources as they could maintain their solid performance.
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Is Array Technologies (ARRY) Outperforming 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 Array Technologies, Inc. (ARRY - Free Report) one of those stocks right now? 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.
Array Technologies, Inc. is a member of our Oils-Energy group, which includes 250 different companies and currently sits at #15 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 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. Array Technologies, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ARRY's full-year earnings has moved 13.3% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ARRY has returned about 4.5% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of -3.4% on a year-to-date basis. As we can see, Array Technologies, Inc. is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Civitas Resources (CIVI - Free Report) . The stock has returned 21% year-to-date.
For Civitas Resources, the consensus EPS estimate for the current year has increased 34.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Array Technologies, Inc. belongs to the Solar industry, a group that includes 17 individual companies and currently sits at #54 in the Zacks Industry Rank. Stocks in this group have lost about 11.7% so far this year, so ARRY is performing better this group in terms of year-to-date returns.
On the other hand, Civitas Resources belongs to the Oil and Gas - Exploration and Production - United States industry. This 41-stock industry is currently ranked #223. The industry has moved -6.9% year to date.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Array Technologies, Inc. and Civitas Resources as they could maintain their solid performance.