Investors focused on the Oils-Energy space have likely heard of Sunworks (SUNW - 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.
Sunworks is one of 311 companies in the Oils-Energy group. The Oils-Energy group currently sits at #6 within 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. SUNW is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SUNW's full-year earnings has moved 120% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, SUNW has returned 262.56% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 14.05% on a year-to-date basis. As we can see, Sunworks is performing better than its sector in the calendar year.
Breaking things down more, SUNW is a member of the Solar industry, which includes 12 individual companies and currently sits at #26 in the Zacks Industry Rank. On average, stocks in this group have gained 48.23% this year, meaning that SUNW is performing better in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to SUNW as it looks to continue its solid performance.