Investors focused on the Oils-Energy space have likely heard of SunPower (SPWR - 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 SPWR and the rest of the Oils-Energy group's stocks.
SunPower is a member of the Oils-Energy sector. This group includes 295 individual stocks and currently holds a Zacks Sector Rank of #11. 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 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).
Over the past 90 days, the Zacks Consensus Estimate for SPWR's full-year earnings has moved 17.58% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that SPWR has returned about 9.62% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of -25.99%. As we can see, SunPower is performing better than its sector in the calendar year.
Looking more specifically, SPWR belongs to the Solar industry, which includes 12 individual stocks and currently sits at #35 in the Zacks Industry Rank. On average, this group has gained an average of 27.07% so far this year, meaning that SPWR is slightly underperforming its industry in terms of year-to-date returns.
SPWR will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.