For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Drilling Tools International Corp. (DTI) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Drilling Tools International Corp. is a member of our Oils-Energy group, which includes 237 different companies and currently sits at #7 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Drilling Tools International Corp. is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for DTI's full-year earnings has moved 36.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, DTI has returned 16.9% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 9.4% on a year-to-date basis. This means that Drilling Tools International Corp. is outperforming the sector as a whole this year.
One other Oils-Energy stock that has outperformed the sector so far this year is FuelCell Energy (FCEL). The stock is up 12.7% year-to-date.
Over the past three months, FuelCell Energy's consensus EPS estimate for the current year has increased 29.1%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Drilling Tools International Corp. is a member of the Oil and Gas - Field Services industry, which includes 19 individual companies and currently sits at #49 in the Zacks Industry Rank. Stocks in this group have gained about 15.9% so far this year, so DTI is performing better this group in terms of year-to-date returns.
FuelCell Energy, however, belongs to the Alternative Energy - Other industry. Currently, this 47-stock industry is ranked #79. The industry has moved +35.8% so far this year.
Drilling Tools International Corp. and FuelCell Energy 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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Drilling Tools International Corp. (DTI): Free Stock Analysis Report FuelCell Energy, Inc. (FCEL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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