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 295 companies in the Oils-Energy group. The Oils-Energy group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ENPH is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ENPH's full-year earnings has moved 5.11% higher within the past quarter. 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 58.21% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of -8.20% on a year-to-date basis. This means that Enphase Energy is outperforming the sector as a whole this year.
Looking more specifically, ENPH belongs to the Solar industry, a group that includes 12 individual stocks and currently sits at #106 in the Zacks Industry Rank. On average, this group has gained an average of 22.21% so far this year, meaning that ENPH is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on ENPH as it attempts to continue its solid performance.