Investors focused on the Oils-Energy space have likely heard of SunPower (SPWR), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
SunPower is a member of the Oils-Energy sector. This group includes 295 individual stocks and currently holds a Zacks Sector Rank of #10. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. SPWR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SPWR's full-year earnings has moved 17.58% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SPWR has moved about 37.05% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of -8.57% on a year-to-date basis. This means that SunPower is performing better than its sector in terms of year-to-date returns.
Breaking things down more, SPWR is a member of the Solar industry, which includes 12 individual companies and currently sits at #69 in the Zacks Industry Rank. On average, this group has gained an average of 47.46% so far this year, meaning that SPWR is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Oils-Energy stocks should continue to track SPWR. The stock will be looking to continue its solid performance.