U.S. markets open in 44 minutes
  • S&P Futures

    3,605.25
    +29.25 (+0.82%)
     
  • Dow Futures

    29,878.00
    +332.00 (+1.12%)
     
  • Nasdaq Futures

    11,948.25
    +43.00 (+0.36%)
     
  • Russell 2000 Futures

    1,844.20
    +27.10 (+1.49%)
     
  • Crude Oil

    43.65
    +0.59 (+1.37%)
     
  • Gold

    1,803.90
    -33.90 (-1.84%)
     
  • Silver

    23.06
    -0.57 (-2.42%)
     
  • EUR/USD

    1.1874
    +0.0028 (+0.24%)
     
  • 10-Yr Bond

    0.8720
    +0.0150 (+1.75%)
     
  • Vix

    21.56
    -2.14 (-9.03%)
     
  • GBP/USD

    1.3336
    +0.0014 (+0.11%)
     
  • USD/JPY

    104.5470
    +0.0590 (+0.06%)
     
  • BTC-USD

    19,175.37
    +723.41 (+3.92%)
     
  • CMC Crypto 200

    378.69
    +17.26 (+4.78%)
     
  • FTSE 100

    6,412.54
    +78.70 (+1.24%)
     
  • Nikkei 225

    26,165.59
    +638.22 (+2.50%)
     

Is SolarEdge Technologies (SEDG) Stock Outpacing Its Oils-Energy Peers This Year?

Zacks Equity Research
·2 min read

Investors focused on the Oils-Energy space have likely heard of SolarEdge Technologies (SEDG), 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.

SolarEdge Technologies is a member of the Oils-Energy sector. This group includes 260 individual stocks and currently holds a Zacks Sector Rank of #11. 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. SEDG is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for SEDG's full-year earnings has moved 7.56% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, SEDG has returned 186.66% so far this year. Meanwhile, the Oils-Energy sector has returned an average of -41.86% on a year-to-date basis. This means that SolarEdge Technologies is outperforming the sector as a whole this year.

Looking more specifically, SEDG belongs to the Solar industry, a group that includes 13 individual stocks and currently sits at #110 in the Zacks Industry Rank. On average, stocks in this group have gained 165.73% this year, meaning that SEDG is performing better in terms of year-to-date returns.

SEDG will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.