The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Tigo Energy, Inc. (TYGO) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Tigo Energy, Inc. is a member of the Oils-Energy sector. This group includes 245 individual stocks and currently holds a Zacks Sector Rank of #12. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Tigo Energy, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for TYGO's full-year earnings has moved 7.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, TYGO has gained about 135.6% so far this year. In comparison, Oils-Energy companies have returned an average of 4.6%. This means that Tigo Energy, Inc. is performing better than its sector in terms of year-to-date returns.
Another stock in the Oils-Energy sector, W&T Offshore (WTI), has outperformed the sector so far this year. The stock's year-to-date return is 17.5%.
In W&T Offshore's case, the consensus EPS estimate for the current year increased 24.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Tigo Energy, Inc. is a member of the Solar industry, which includes 14 individual companies and currently sits at #68 in the Zacks Industry Rank. On average, stocks in this group have gained 49.5% this year, meaning that TYGO is performing better in terms of year-to-date returns.
In contrast, W&T Offshore falls under the Oil and Gas - Exploration and Production - United States industry. Currently, this industry has 36 stocks and is ranked #197. Since the beginning of the year, the industry has moved -28.9%.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Tigo Energy, Inc. and W&T Offshore as they could maintain their solid performance.
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Tigo Energy, Inc. (TYGO): Free Stock Analysis Report W&T Offshore, Inc. (WTI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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