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Are Construction Stocks Lagging Owens Corning (OC) This Year?
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The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Owens Corning (OC - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Construction peers, we might be able to answer that question.
Owens Corning is a member of our Construction group, which includes 99 different companies and currently sits at #1 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. Owens Corning is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for OC's full-year earnings has moved 29.3% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, OC has returned 58% so far this year. At the same time, Construction stocks have gained an average of 22.7%. This means that Owens Corning is performing better than its sector in terms of year-to-date returns.
Another Construction stock, which has outperformed the sector so far this year, is PulteGroup (PHM - Free Report) . The stock has returned 62.3% year-to-date.
In PulteGroup's case, the consensus EPS estimate for the current year increased 25.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Owens Corning belongs to the Building Products - Miscellaneous industry, which includes 27 individual stocks and currently sits at #23 in the Zacks Industry Rank. On average, this group has gained an average of 25.4% so far this year, meaning that OC is performing better in terms of year-to-date returns.
On the other hand, PulteGroup belongs to the Building Products - Home Builders industry. This 19-stock industry is currently ranked #5. The industry has moved +34.9% year to date.
Investors interested in the Construction sector may want to keep a close eye on Owens Corning and PulteGroup as they attempt to continue their solid performance.
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Are Construction Stocks Lagging Owens Corning (OC) This Year?
The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Owens Corning (OC - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Construction peers, we might be able to answer that question.
Owens Corning is a member of our Construction group, which includes 99 different companies and currently sits at #1 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. Owens Corning is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for OC's full-year earnings has moved 29.3% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, OC has returned 58% so far this year. At the same time, Construction stocks have gained an average of 22.7%. This means that Owens Corning is performing better than its sector in terms of year-to-date returns.
Another Construction stock, which has outperformed the sector so far this year, is PulteGroup (PHM - Free Report) . The stock has returned 62.3% year-to-date.
In PulteGroup's case, the consensus EPS estimate for the current year increased 25.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Owens Corning belongs to the Building Products - Miscellaneous industry, which includes 27 individual stocks and currently sits at #23 in the Zacks Industry Rank. On average, this group has gained an average of 25.4% so far this year, meaning that OC is performing better in terms of year-to-date returns.
On the other hand, PulteGroup belongs to the Building Products - Home Builders industry. This 19-stock industry is currently ranked #5. The industry has moved +34.9% year to date.
Investors interested in the Construction sector may want to keep a close eye on Owens Corning and PulteGroup as they attempt to continue their solid performance.