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Has Array Technologies (ARRY) Outpaced Other Oils-Energy Stocks This Year?

·2-min read

Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Array Technologies, Inc. (ARRY) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Array Technologies, Inc. is one of 254 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within the Zacks Sector Rank. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Array Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for ARRY's full-year earnings has moved 5.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, ARRY has gained about 50.3% so far this year. At the same time, Oils-Energy stocks have gained an average of 27%. This shows that Array Technologies, Inc. is outperforming its peers so far this year.

Patterson-UTI (PTEN) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 74.1%.

For Patterson-UTI, the consensus EPS estimate for the current year has increased 1655.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Array Technologies, Inc. belongs to the Solar industry, a group that includes 17 individual companies and currently sits at #64 in the Zacks Industry Rank. On average, this group has gained an average of 28.5% so far this year, meaning that ARRY is performing better in terms of year-to-date returns.

In contrast, Patterson-UTI falls under the Oil and Gas - Drilling industry. Currently, this industry has 7 stocks and is ranked #30. Since the beginning of the year, the industry has moved +38.2%.

Investors with an interest in Oils-Energy stocks should continue to track Array Technologies, Inc. and Patterson-UTI. These stocks will be looking to continue their solid performance.


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