Investors focused on the Oils-Energy space have likely heard of Enviva Partners, (EVA), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Enviva Partners, is one of 272 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. EVA is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for EVA's full-year earnings has moved 21.70% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, EVA has returned 4.45% so far this year. Meanwhile, the Oils-Energy sector has returned an average of -32.74% on a year-to-date basis. As we can see, Enviva Partners, is performing better than its sector in the calendar year.
Looking more specifically, EVA belongs to the Biofuels industry, which includes 3 individual stocks and currently sits at #19 in the Zacks Industry Rank. Stocks in this group have gained about 4.83% so far this year, so EVA is slightly underperforming its industry this group in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to EVA as it looks to continue its solid performance.
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