Has SunPower (SPWR) Outpaced Other Oils-Energy Stocks This Year?
Investors focused on the Oils-Energy space have likely heard of SunPower (SPWR), but is the stock performing well in comparison to the rest of its sector peers? 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.
SunPower is a member of the Oils-Energy sector. This group includes 268 individual stocks and currently holds a Zacks Sector Rank of #12. 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. SPWR is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SPWR's full-year earnings has moved 35.32% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that SPWR has returned about 30.90% since the start of the calendar year. At the same time, Oils-Energy stocks have lost an average of 42.50%. This means that SunPower is outperforming the sector as a whole this year.
Looking more specifically, SPWR belongs to the Solar industry, which includes 12 individual stocks and currently sits at #74 in the Zacks Industry Rank. This group has gained an average of 107.68% so far this year, so SPWR is slightly underperforming its industry in this area.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to SPWR as it looks to continue its solid performance.
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