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Are Construction Stocks Lagging Owens Corning (OC) This Year?
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Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. 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? Let's take a closer look at the stock's year-to-date performance to find out.
Owens Corning is one of 94 individual stocks in the Construction sector. Collectively, these companies sit at #1 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Owens Corning is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for OC's full-year earnings has moved 9.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, OC has gained about 17.5% so far this year. At the same time, Construction stocks have gained an average of 7.2%. This shows that Owens Corning is outperforming its peers so far this year.
Another stock in the Construction sector, PulteGroup (PHM - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 9%.
In PulteGroup's case, the consensus EPS estimate for the current year increased 7.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Owens Corning is a member of the Building Products - Miscellaneous industry, which includes 28 individual companies and currently sits at #34 in the Zacks Industry Rank. This group has gained an average of 7.5% so far this year, so OC is performing better in this area.
In contrast, PulteGroup falls under the Building Products - Home Builders industry. Currently, this industry has 16 stocks and is ranked #18. Since the beginning of the year, the industry has moved +1.8%.
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?
Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. 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? Let's take a closer look at the stock's year-to-date performance to find out.
Owens Corning is one of 94 individual stocks in the Construction sector. Collectively, these companies sit at #1 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Owens Corning is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for OC's full-year earnings has moved 9.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, OC has gained about 17.5% so far this year. At the same time, Construction stocks have gained an average of 7.2%. This shows that Owens Corning is outperforming its peers so far this year.
Another stock in the Construction sector, PulteGroup (PHM - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 9%.
In PulteGroup's case, the consensus EPS estimate for the current year increased 7.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Owens Corning is a member of the Building Products - Miscellaneous industry, which includes 28 individual companies and currently sits at #34 in the Zacks Industry Rank. This group has gained an average of 7.5% so far this year, so OC is performing better in this area.
In contrast, PulteGroup falls under the Building Products - Home Builders industry. Currently, this industry has 16 stocks and is ranked #18. Since the beginning of the year, the industry has moved +1.8%.
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.