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Is SolarEdge Technologies (SEDG) Outperforming Other Oils-Energy Stocks This Year?
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Investors focused on the Oils-Energy space have likely heard of SolarEdge Technologies (SEDG - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of SEDG and the rest of the Oils-Energy group's stocks.
SolarEdge Technologies is a member of our Oils-Energy group, which includes 295 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. SEDG is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for SEDG's full-year earnings has moved 15.63% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SEDG has moved about 42.63% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of -13.58%. This means that SolarEdge Technologies is outperforming the sector as a whole this year.
Breaking things down more, SEDG is a member of the Solar industry, which includes 12 individual companies and currently sits at #40 in the Zacks Industry Rank. On average, this group has gained an average of 36.47% so far this year, meaning that SEDG is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on SEDG as it attempts to continue its solid performance.
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Is SolarEdge Technologies (SEDG) Outperforming Other Oils-Energy Stocks This Year?
Investors focused on the Oils-Energy space have likely heard of SolarEdge Technologies (SEDG - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of SEDG and the rest of the Oils-Energy group's stocks.
SolarEdge Technologies is a member of our Oils-Energy group, which includes 295 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. SEDG is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for SEDG's full-year earnings has moved 15.63% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SEDG has moved about 42.63% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of -13.58%. This means that SolarEdge Technologies is outperforming the sector as a whole this year.
Breaking things down more, SEDG is a member of the Solar industry, which includes 12 individual companies and currently sits at #40 in the Zacks Industry Rank. On average, this group has gained an average of 36.47% so far this year, meaning that SEDG is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on SEDG as it attempts to continue its solid performance.