Investors focused on the Oils-Energy space have likely heard of SolarEdge Technologies (SEDG - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
SolarEdge Technologies is one of 331 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. 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 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. SEDG is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SEDG's full-year earnings has moved 13.62% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, SEDG has returned 42.34% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 7.76% on average. As we can see, SolarEdge Technologies is performing better than its sector in the calendar year.
Looking more specifically, SEDG belongs to the Solar industry, a group that includes 15 individual stocks and currently sits at #85 in the Zacks Industry Rank. On average, this group has lost an average of 6.54% so far this year, meaning that SEDG is performing better in terms of year-to-date returns.
SEDG will likely be looking to continue its solid performance, so investors interested Oils-Energy stocks should continue to pay close attention to the company.