Is Profire Energy, Inc. (PFIE) Outperforming Other Oils-Energy Stocks This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Profire Energy, Inc. (PFIE) 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.
Profire Energy, Inc. is one of 255 companies in the Oils-Energy group. The Oils-Energy group currently sits at #3 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Profire Energy, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PFIE's full-year earnings has moved 60% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that PFIE has returned about 37.7% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 24.6%. This shows that Profire Energy, Inc. is outperforming its peers so far this year.
Ranger Oil (ROCC) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 49.9%.
The consensus estimate for Ranger Oil's current year EPS has increased 23.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Profire Energy, Inc. belongs to the Oil and Gas - Mechanical and and Equipment industry, which includes 11 individual stocks and currently sits at #112 in the Zacks Industry Rank. On average, stocks in this group have gained 30.1% this year, meaning that PFIE is performing better in terms of year-to-date returns.
On the other hand, Ranger Oil belongs to the Oil and Gas - Exploration and Production - United States industry. This 41-stock industry is currently ranked #67. The industry has moved +32.7% year to date.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Profire Energy, Inc. and Ranger Oil as they could maintain their solid performance.
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