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 CSLM Acquisition Corp. (SPWR) been one of those stocks this year? 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.
CSLM Acquisition Corp. is one of 245 companies in the Oils-Energy group. The Oils-Energy group currently sits at #16 within 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 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. CSLM Acquisition Corp. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SPWR's full-year earnings has moved 129.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, SPWR has returned 3.9% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 1.1% on average. As we can see, CSLM Acquisition Corp. is performing better than its sector in the calendar year.
Another stock in the Oils-Energy sector, Tigo Energy, Inc. (TYGO), has outperformed the sector so far this year. The stock's year-to-date return is 26.9%.
Over the past three months, Tigo Energy, Inc.'s consensus EPS estimate for the current year has increased 11.6%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, CSLM Acquisition Corp. is a member of the Solar industry, which includes 16 individual companies and currently sits at #179 in the Zacks Industry Rank. Stocks in this group have gained about 2.5% so far this year, so SPWR is performing better this group in terms of year-to-date returns. Tigo Energy, Inc. is also part of the same industry.
Investors interested in the Oils-Energy sector may want to keep a close eye on CSLM Acquisition Corp. and Tigo Energy, Inc. as they attempt to continue their solid performance.
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CSLM Acquisition Corp. (SPWR): Free Stock Analysis Report Tigo Energy, Inc. (TYGO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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