Are Oils-Energy Stocks Lagging Array Technologies (ARRY) This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Array Technologies, Inc. (ARRY) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Array Technologies, Inc. is one of 246 companies in the Oils-Energy group. The Oils-Energy group currently sits at #6 within the Zacks Sector Rank. 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 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. Array Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ARRY's full-year earnings has moved 10.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ARRY has gained about 5.2% so far this year. Meanwhile, stocks in the Oils-Energy group have lost about 0.2% on average. This shows that Array Technologies, Inc. is outperforming its peers so far this year.
Petrobras (PBR) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 30.1%.
The consensus estimate for Petrobras' current year EPS has increased 10.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Array Technologies, Inc. belongs to the Solar industry, a group that includes 17 individual stocks and currently sits at #158 in the Zacks Industry Rank. Stocks in this group have lost about 41.5% so far this year, so ARRY is performing better this group in terms of year-to-date returns.
In contrast, Petrobras falls under the Oil and Gas - Integrated - Emerging Markets industry. Currently, this industry has 2 stocks and is ranked #27. Since the beginning of the year, the industry has moved +34.5%.
Array Technologies, Inc. and Petrobras could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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Array Technologies, Inc. (ARRY) : Free Stock Analysis Report
Petroleo Brasileiro S.A.- Petrobras (PBR) : Free Stock Analysis Report
