For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Array Technologies, Inc. (ARRY) 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? 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.
Array Technologies, Inc. is one of 240 companies in the Oils-Energy group. The Oils-Energy group currently sits at #16 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Array Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ARRY's full-year earnings has moved 10.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ARRY has gained about 15.1% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 2.4% on average. As we can see, Array Technologies, Inc. is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is Brookfield Renewable Corporation (BEPC). The stock has returned 33.6% year-to-date.
Over the past three months, Brookfield Renewable Corporation's consensus EPS estimate for the current year has increased 48.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Array Technologies, Inc. belongs to the Solar industry, a group that includes 15 individual stocks and currently sits at #161 in the Zacks Industry Rank. On average, this group has gained an average of 0% so far this year, meaning that ARRY is performing better in terms of year-to-date returns.
Brookfield Renewable Corporation, however, belongs to the Alternative Energy - Other industry. Currently, this 41-stock industry is ranked #170. The industry has moved +29.9% so far this year.
Array Technologies, Inc. and Brookfield Renewable Corporation could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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Array Technologies, Inc. (ARRY): Free Stock Analysis Report Brookfield Renewable Corporation (BEPC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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