Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Array Technologies, Inc. (ARRY) 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.
Array Technologies, Inc. is one of 245 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Array Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ARRY's full-year earnings has moved 1.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ARRY has returned 47.7% so far this year. At the same time, Oils-Energy stocks have gained an average of 6.4%. This means that Array Technologies, Inc. is performing better than its sector in terms of year-to-date returns.
Par Petroleum (PARR) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 149.9%.
In Par Petroleum's case, the consensus EPS estimate for the current year increased 165.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Array Technologies, Inc. belongs to the Solar industry, a group that includes 14 individual companies and currently sits at #65 in the Zacks Industry Rank. Stocks in this group have gained about 37.9% so far this year, so ARRY is performing better this group in terms of year-to-date returns.
Par Petroleum, however, belongs to the Oil and Gas - Refining and Marketing industry. Currently, this 15-stock industry is ranked #23. The industry has moved +19.9% so far this year.
Investors interested in the Oils-Energy sector may want to keep a close eye on Array Technologies, Inc. and Par Petroleum as they attempt to continue their solid performance.
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Array Technologies, Inc. (ARRY): Free Stock Analysis Report Par Pacific Holdings, Inc. (PARR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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