We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is Patrick Industries (PATK) Outperforming Other Construction Stocks This Year?
Read MoreHide Full Article
Investors focused on the Construction space have likely heard of Patrick Industries (PATK - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Construction sector should help us answer this question.
Patrick Industries is one of 104 individual stocks in the Construction sector. Collectively, these companies sit at #2 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 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. PATK is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for PATK's full-year earnings has moved 16.49% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, PATK has moved about 34.22% on a year-to-date basis. At the same time, Construction stocks have gained an average of 21.47%. As we can see, Patrick Industries is performing better than its sector in the calendar year.
To break things down more, PATK belongs to the Building Products - Mobile Homes and RV Builders industry, a group that includes 4 individual companies and currently sits at #4 in the Zacks Industry Rank. On average, stocks in this group have gained 22.02% this year, meaning that PATK is performing better in terms of year-to-date returns.
PATK will likely be looking to continue its solid performance, so investors interested in Construction stocks should continue to pay close attention to the company.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Is Patrick Industries (PATK) Outperforming Other Construction Stocks This Year?
Investors focused on the Construction space have likely heard of Patrick Industries (PATK - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Construction sector should help us answer this question.
Patrick Industries is one of 104 individual stocks in the Construction sector. Collectively, these companies sit at #2 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 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. PATK is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for PATK's full-year earnings has moved 16.49% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, PATK has moved about 34.22% on a year-to-date basis. At the same time, Construction stocks have gained an average of 21.47%. As we can see, Patrick Industries is performing better than its sector in the calendar year.
To break things down more, PATK belongs to the Building Products - Mobile Homes and RV Builders industry, a group that includes 4 individual companies and currently sits at #4 in the Zacks Industry Rank. On average, stocks in this group have gained 22.02% this year, meaning that PATK is performing better in terms of year-to-date returns.
PATK will likely be looking to continue its solid performance, so investors interested in Construction stocks should continue to pay close attention to the company.