Investors focused on the Oils-Energy space have likely heard of Enphase Energy (ENPH - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of ENPH and the rest of the Oils-Energy group's stocks.
Enphase Energy is a member of our Oils-Energy group, which includes 309 different companies and currently sits at #12 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 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. ENPH is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ENPH's full-year earnings has moved 51.39% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ENPH has gained about 473.36% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 4.09% on average. This shows that Enphase Energy is outperforming its peers so far this year.
Looking more specifically, ENPH belongs to the Solar industry, a group that includes 12 individual stocks and currently sits at #15 in the Zacks Industry Rank. Stocks in this group have gained about 92.27% so far this year, so ENPH is performing better this group in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on ENPH as it attempts to continue its solid performance.