For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Array Technologies, Inc. (ARRY) one of those stocks right now? 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 241 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #15 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. 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 4.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ARRY has gained about 30.5% so far this year. In comparison, Oils-Energy companies have returned an average of 1%. This shows that Array Technologies, Inc. is outperforming its peers so far this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is FMC Technologies (FTI). The stock has returned 20.2% year-to-date.
In FMC Technologies' case, the consensus EPS estimate for the current year increased 0.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Array Technologies, Inc. belongs to the Solar industry, which includes 15 individual stocks and currently sits at #36 in the Zacks Industry Rank. This group has gained an average of 2.6% so far this year, so ARRY is performing better in this area.
On the other hand, FMC Technologies belongs to the Oil and Gas - Field Services industry. This 23-stock industry is currently ranked #220. The industry has moved -10.5% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Array Technologies, Inc. and FMC Technologies as they attempt to continue their solid performance.
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Array Technologies, Inc. (ARRY): Free Stock Analysis Report TechnipFMC plc (FTI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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