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? 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 306 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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. SEDG is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SEDG's full-year earnings has moved 2.51% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, SEDG has moved about 118.78% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of 1.79% on a year-to-date basis. 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 13 individual stocks and currently sits at #66 in the Zacks Industry Rank. Stocks in this group have gained about 49.14% so far this year, so SEDG 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 SEDG as it attempts to continue its solid performance.