For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Enphase Energy (ENPH - 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 ENPH and the rest of the Oils-Energy group's stocks.
Enphase Energy is a member of our Oils-Energy group, which includes 308 different companies and currently sits at #13 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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 #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ENPH's full-year earnings has moved 5.70% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ENPH has returned about 310.78% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 0.55%. This shows that Enphase Energy is outperforming its peers so far this year.
Breaking things down more, ENPH is a member of the Solar industry, which includes 13 individual companies and currently sits at #31 in the Zacks Industry Rank. This group has gained an average of 54.84% so far this year, so ENPH is performing better in this area.
Investors with an interest in Oils-Energy stocks should continue to track ENPH. The stock will be looking to continue its solid performance.