The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. SolarEdge Technologies (SEDG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of SEDG and the rest of the Oils-Energy group's stocks.
SolarEdge Technologies is a member of the Oils-Energy sector. This group includes 312 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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).
Within the past quarter, the Zacks Consensus Estimate for SEDG's full-year earnings has moved 1.28% 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 130.26% so far this year. In comparison, Oils-Energy companies have returned an average of 1.24%. This shows that SolarEdge Technologies is outperforming its peers so far this year.
To break things down more, SEDG belongs to the Solar industry, a group that includes 12 individual companies and currently sits at #40 in the Zacks Industry Rank. On average, this group has gained an average of 93.98% so far this year, meaning that SEDG 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 SEDG as it looks to continue its solid performance.