The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. SolarEdge Technologies (SEDG) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
SolarEdge Technologies is one of 308 companies in the Oils-Energy group. The Oils-Energy group currently sits at #10 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 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 #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SEDG's full-year earnings has moved 19.50% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, SEDG has moved about 130.77% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have lost about 1.01% on average. This means that SolarEdge Technologies is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SEDG belongs to the Solar industry, which includes 13 individual stocks and currently sits at #22 in the Zacks Industry Rank. Stocks in this group have gained about 63.20% so far this year, so SEDG is performing better this group in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on SEDG as it attempts to continue its solid performance.
SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report
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Zacks Investment Research