Investors focused on the Oils-Energy space have likely heard of Enphase Energy (ENPH), 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 one of 253 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #9 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 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. ENPH is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ENPH’s full-year earnings has moved 8.42% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Our latest available data shows that ENPH has returned about 13.45% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 10.22%. This means that Enphase Energy is outperforming the sector as a whole this year.
To break things down more, ENPH belongs to the Solar industry, a group that includes 13 individual companies and currently sits at #83 in the Zacks Industry Rank. On average, this group has gained an average of 6.73% so far this year, meaning that ENPH is performing better in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to ENPH as it looks to continue its solid performance.
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