Yahoo Finance Is SolarEdge Technologies (SEDG) Outperforming Other Oils-Energy Stocks This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has SolarEdge Technologies (SEDG) been one of those stocks this year? 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 a member of our Oils-Energy group, which includes 252 different companies and currently sits at #15 in 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. SolarEdge Technologies 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 24.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, SEDG has gained about 1.1% so far this year. At the same time, Oils-Energy stocks have lost an average of 5.5%. This means that SolarEdge Technologies is performing better than its sector in terms of year-to-date returns.
One other Oils-Energy stock that has outperformed the sector so far this year is Smart Sand (SND). The stock is up 6.2% year-to-date.
For Smart Sand, the consensus EPS estimate for the current year has increased 200% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, SolarEdge Technologies belongs to the Solar industry, a group that includes 16 individual stocks and currently sits at #47 in the Zacks Industry Rank. This group has lost an average of 16.1% so far this year, so SEDG is performing better in this area.
In contrast, Smart Sand falls under the Oil and Gas - Field Services industry. Currently, this industry has 23 stocks and is ranked #176. Since the beginning of the year, the industry has moved -11.5%.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to SolarEdge Technologies and Smart Sand as they could maintain their solid performance.
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SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report
Smart Sand (SND) : Free Stock Analysis Report
