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Is Drilling Tools International Corp. (DTI) Outperforming Other Oils-Energy Stocks This Year?
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Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Drilling Tools International Corp. (DTI - Free Report) 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.
Drilling Tools International Corp. is a member of the Oils-Energy sector. This group includes 237 individual stocks and currently holds a Zacks Sector Rank of #15. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Drilling Tools International Corp. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for DTI's full-year earnings has moved 50% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, DTI has gained about 63.3% so far this year. In comparison, Oils-Energy companies have returned an average of 14.2%. This shows that Drilling Tools International Corp. is outperforming its peers so far this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Innovex International (INVX - Free Report) . The stock has returned 16.6% year-to-date.
Over the past three months, Innovex International's consensus EPS estimate for the current year has increased 3.9%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Drilling Tools International Corp. belongs to the Oil and Gas - Field Services industry, a group that includes 19 individual companies and currently sits at #60 in the Zacks Industry Rank. On average, this group has gained an average of 25.5% so far this year, meaning that DTI is performing better in terms of year-to-date returns.
On the other hand, Innovex International belongs to the Oil and Gas - Mechanical and and Equipment industry. This 12-stock industry is currently ranked #97. The industry has moved +28.1% year to date.
Drilling Tools International Corp. and Innovex International could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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Is Drilling Tools International Corp. (DTI) Outperforming Other Oils-Energy Stocks This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Drilling Tools International Corp. (DTI - Free Report) 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.
Drilling Tools International Corp. is a member of the Oils-Energy sector. This group includes 237 individual stocks and currently holds a Zacks Sector Rank of #15. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Drilling Tools International Corp. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for DTI's full-year earnings has moved 50% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, DTI has gained about 63.3% so far this year. In comparison, Oils-Energy companies have returned an average of 14.2%. This shows that Drilling Tools International Corp. is outperforming its peers so far this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Innovex International (INVX - Free Report) . The stock has returned 16.6% year-to-date.
Over the past three months, Innovex International's consensus EPS estimate for the current year has increased 3.9%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Drilling Tools International Corp. belongs to the Oil and Gas - Field Services industry, a group that includes 19 individual companies and currently sits at #60 in the Zacks Industry Rank. On average, this group has gained an average of 25.5% so far this year, meaning that DTI is performing better in terms of year-to-date returns.
On the other hand, Innovex International belongs to the Oil and Gas - Mechanical and and Equipment industry. This 12-stock industry is currently ranked #97. The industry has moved +28.1% year to date.
Drilling Tools International Corp. and Innovex International could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.